GE Capital and The Toro Company Renew Exclusive Consumer Financing Program
Private Label Credit Program Offers Financing on Toro and Exmark Products
STAMFORD, Conn.--(BUSINESS WIRE)-- GE Capital Retail Bank and The Toro Companyrecently announced a multi-year extension of their exclusive private label credit card program. GE Capital's Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will continue to manage the relationship and service the account.
The private label credit card program, originally launched in 2004, is accepted at more than 5,000 independent Toro and Exmark dealers nationwide. It offers an online application process, competitive rates, and special financing promotions varying from 12 to 60 months on a complete line of Toro and Exmark-branded residential and landscape equipment, irrigation products, and other yard and garden tools. The card can also be used toward parts, service and accessories.
Toro is a leading worldwide provider of turf and landscape maintenance equipment and irrigation solutions helping customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields.
"The Toro Company and GE Capital have enjoyed a mutually successful relationship in providing customers with financial solutions to grow their businesses," said Michael Happe, group vice president, Residential and Contractor Businesses for The Toro Company. "We look forward to continuing this relationship and to offering our customers the ability to make the purchases they need and want with convenient financing options."
"We're pleased to extend our program with the Toro Company," said Gary Slagle, vice president and general manager of the Outdoor Power Equipment industry for GE Capital's Retail Finance business. "For nearly a decade, we've jointly provided customer financing solutions to Toro and Exmark customers and we look forward to continued growth."
For more than 75 years, GE Capital's Retail Finance business has provided billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital is a leading provider of consumer credit in the Outdoor Power Equipment industry for more than 15 years. The company supports its clients with proprietary online technology such as Business Center, which includes service, marketing and sales tools, as well as the newly launched Learning Center, providing businesses with access to comprehensive training for their teams on financing for consumers.
About The Toro Company
The Toro Company (NYS: TTC) is a leading worldwide provider of turf and landscape maintenance equipment and irrigation solutions. With sales of nearly $1.9 billion in fiscal 2011, Toro's global presence extends to more than 90 countries through its reputation of world-class service, innovation and turf expertise. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields. More information is available at www.toro.com.
About GE Capital's Retail Finance business
GE Capital's Retail Finance business is among the country's most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. We are not just bankers; we help clients build better businesses. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. 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.
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Cristy Williams, 678-518-2596
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