GE Capital Announces New Inventory Finance Program for Vermeer Corporation
Agricultural equipment dealerships in U.S. and Canada may benefit from preferred credit program
CHICAGO--(BUSINESS WIRE)-- GE Capital, Commercial Distribution Finance (CDF) has been selected by Vermeer Corporation as a preferred provider of floorplan financing for its agricultural equipment distribution network in the U.S. and Canada. Headquartered in Pella, IA, Vermeer develops and manufactures a variety of equipment for use in agriculture as well as other industries, including construction, landscaping, mining and tree care.
Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model. Manufacturers benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved credit availability and terms.
"GE Capital is working with us to provide customized financing programs beyond our internal inventory finance capabilities with enhanced customer service to help our distributors to grow sales," said Jill Blanco, global dealer finance manager for Vermeer. "GE Capital's industry expertise and technological innovations make it an ideal financing partner for our agricultural distribution network."
"We're pleased to have this opportunity to help Vermeer grow its business," said Steve Battreall, CDF's chief commercial officer. "We have deep expertise in the agriculture industry so we're looking forward to helping its dealers improve their liquidity and manage their cash."
About Vermeer Corporation
Vermeer manufacturers a complete line of hay tools including round balers, mowers, mowers/conditioners, rakes, tedders, bale processors and silage wrappers plus biomass harvesting equipment used for renewable energy and reclamation and a wide assortment of industrial products for tree, construction, environmental and underground utility service work. For more information, please go to www.vermeer.com.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America in 2011. 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. For more information, visit http://www.gecdf.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 www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYS: GE) 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. For more information, visit the company's website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582
KEYWORDS: United States North America Illinois Iowa
The article GE Capital Announces New Inventory Finance Program for Vermeer Corporation originally appeared on Fool.com.