GE Capital Supports Ramp Up of Erik Buell Racing LLC
Provides dealer financing as motorcycle industry icon expands production of new high-performance cycles
CHICAGO--(BUSINESS WIRE)-- GE Capital's Commercial Distribution Finance (CDF) business announced today that it has been chosen as the first provider of inventory financing to Erik Buell Racing LLC (EBR). Based in East Troy, WI, the company was started by noted motorcycle racer and designer Erik Buell in 2009. Its first model is the EBR 1190RS.
The funds will support the expansion of EBR's dealer network in the U.S. Inventory financing, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of motorcycles and related products from manufacturers. It is an important element of a successful manufacturer-dealer business model.
"As we ramp up our production capabilities and introduce other models, it's great to know that we have a finance company that can support us as we expand," said Erik Buell. "I'm pleased that GE Capital, with its decades of experience in the motorsports industry, continues to support emerging manufacturers like EBR."
"We're not just bankers, we're builders," said Sameer Gaur, the commercial leader of CDF's motorsports group. "Across businesses and industries, it's important for us to contribute to the growth of American manufacturers at every stage of their development."
EBR has a mission to build high-performance, American-made sport motorcycles without compromise — and has launched into the market to tremendous acclaim. In 2011, Motorcyclist magazine named Erik Buell the Motorcyclist of the Year. EBR built only 100 of the inaugural 2012 1190RS model. Designed and manufactured in East Troy, WI, the bike is receiving accolades in the racing community, and was named Superbike of the Year by Cycle World magazine. For more information, please visit http://www.erikbuellracing.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.
KEYWORDS: United States North America Illinois Wisconsin
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