GE Capital Renews Financing for 3,500+ Husqvarna Dealers
Supports outdoor power equipment dealers across North America with private-label inventory financing
CHICAGO--(BUSINESS WIRE)-- GE Capital's Commercial Distribution Finance (CDF) business announced today that it will continue to be the exclusive provider of inventory financing for the Husqvarna Group's independent dealer network in the U.S. and Canada. Headquartered in Charlotte, N.C., Husqvarna manufactures a variety of outdoor power products, including chainsaws, trimmers, lawn mowers and garden tractors.
This agreement is an extension to a private label program, branded Husqvarna Financial Services (HFS) in the U.S., that launched in 2005. HFS provides financing to more than 3,500 independent dealers across North America.
"It's critical for our dealer network to have access to inventory financing, so it's important that our finance company understands their needs," said Mike Jones, president of Husqvarna North America and Latin America Sales and Services Division. "GE Capital has the industry knowledge and financial strength to offer flexible programs to help them grow their businesses and navigate seasonal ups and downs."
For more than 30 years and through all business and economic cycles, CDF has supported the outdoor products industry with customer-centric financing programs that enable dealers to stock a broad selection of products. Inventory financing, also called floorplan financing, is an essential component of a successful manufacturer-dealer business relationship. Manufacturers benefit from improved product flow and increased sales opportunities, and dealers obtain enhanced credit availability and flexible programs.
"The continuation of our financing program will allow Husqvarna's dealers to more efficiently manage their cash flows as they acquire product and ultimately sell through to consumers," said Mike Horak, president of CDF's outdoor products group. "In addition, dealers that choose to finance through HFS will obtain instant access to our unique online tools, including customized inventory management reports and insightful benchmarking data. We're honored to continue to work with Husqvarna."
About Husqvarna Group
The Husqvarna Group is the world's largest producer of outdoor power products, including chainsaws, trimmers, lawn mowers and garden tractors. The group is also the European leader in consumer watering products and one of the world leaders in cutting equipment and diamond tools for the construction and stone industries. The product offering includes products for both consumers and professional users. The group's products are sold via dealers and retailers in more than 100 countries. For more information, go to http://www.husqvarna.com/us/home/.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 40,000 manufacturers, dealers and distributors across North America 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. For more information, visit http://www.gecdf.com/ or follow company news via Twitter (https://twitter.com/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 (https://twitter.com/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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