NewswireToday - /newswire/ -
Chicago, IL, United States, 2013/06/13 - GE Capital’s Commercial Distribution Finance (CDF) business announced that it will provide inventory financing to dealerships that carry Ural Motorcycles, distributed by Irbit Motorworks of America, Inc., based in Redmond, WA -IMZ-Ural.com / GECDF.com. NYSE: GE
Made in the Siberian town of Irbit near the Ural Mountains of Russia, the motorcycles are easily recognizable due to their sidecars and heavy-duty construction designed for use on rough roads. Since its start in the 1940s, the company has produced more than 3.2 million motorcycles.
Ural products first came to the U.S. in 1993. The company currently has 75 active dealers here and continues to expand distribution.
“Due to their vintage feel and durable construction, we’ve found a real appetite for our products in the U.S.,” said Jon Bekefy, Ural’s chief marketing officer. “Now that we’ve arranged for inventory financing through GE Capital, we can continue to focus on growing retail sales and building long-term relationships with our national dealer network.”
Inventory financing, also known as floorplan financing, is an important element of a successful manufacturer-lender-dealer business model. Manufacturers can free up resources to focus on their core business interests, while dealers can increase their inventory selection with expanded credit capacity.
“Our deep expertise in this sector enables us to support a wide variety of motorsports products,” said Sameer Gaur, president of CDF’s motorsports group. “We’re looking forward to helping Ural expand its presence in the U.S. marketplace with financing programs that are right for its dealers.”
About Irbit Motorworks of America, Inc.
The first Urals were designed for military purposes during World War II, and we continue to manufacture these legendary sidecar motorcycles, focusing on their authentic utilitarian features that are still relevant to the riders in the 21st century. The Ural design (imz-ural.com) is based on principles which lay the foundation for the sidecar experience. It’s not just about attaching a sidecar to the motorcycle, but also about making the machine capable for almost any type of road, weather and service condition. Ural sidecars are built tough for even the most adventurous riders who demand a solid platform for both on- and off-roading.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance (gecdf.com) provided nearly $31 billion in financing to about 33,000 dealers plus 2,000 distributors and manufacturers in the U.S. and Canada in 2012. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.
GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.