NewswireToday - /newswire/ -
Hoffman Estates, IL, United States, 2011/03/21 - Commercial Distribution Finance expands its commitment to the trailer industry by launching a new financing program and becoming a member of the North American Trailer Dealer Association (NYSE: GE). NYSE: GE
GE Capital’s Commercial Distribution Finance (CDF) business today announced two new initiatives designed to demonstrate its commitment to the trailer industry. It launched a new financing program for dealers of all types of trailers that will extend suppliers’ standard financing terms by 60 days; this includes dealers in the cargo, race car, horse, marine, dump and flatbed markets, among others. In addition, CDF recently became a member of the North American Trailer Dealer Association (NATDA).
"After listening to our manufacturer customers, we’ve decided to offer this new promotional financing program," said Marvin Solomon, managing director for CDF’s strategic industries group. "Our goal is to create an environment in which dealers can feel more comfortable building inventory. We think it will be an effective way to help trailer manufacturers grow their business by adding to their dealer base."
The "Extra 60" promotion will add 60 days to suppliers’ terms for all dealer invoices purchased within the first 30 days from the credit activation date and financed via CDF. The promotion is available to new and current dealers that add additional product or brand lines; it is in effect until June 30, 2011.
CDF (cdfconnect.com) provides financing for floorplan purchases from a variety of trailer manufacturers. Dealers are encouraged to speak with their CDF representative to obtain complete offer details. Dealers may also call 800-451-5944 or visit the CDF website.
Solomon noted that CDF recently joined the NATDA to increase its participation in the trailer industry. The NATDA is a trade association that unifies all members of the industry, including product and service vendors, financial institutions and insurance companies as well as trailer manufacturers and dealers.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30 billion in financing to 30,000 manufacturers and their distributors across the Americas in 2010. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit americas.gecapital.com or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.
Mark Chesney - GE Capital, Commercial Distribution Finance
P: +1 847 747 6518 / M: +1 847 544 9362 / E: Mark.Chesney1[.]ge.com.