Vendor-subsidized program gives dealers more working capital for longer period
HOFFMAN ESTATES, IL -- GE Capital's Commercial Distribution Finance (CDF) business has been selected by Groupe Beneteau, the North American business of France's Groupe Beneteau (Euronext: BEN), as a preferred provider of floorplan financing for its retail dealerships.
Approved Beneteau dealers in the U.S. and Canada are eligible for vendor-subsidized interest support on specific brands as well as preferred program terms for their wholesale purchases. Those brands are Beneteau, Jeanneau, Lagoon, Prestige and Monte Carlo Yachts.
"It is important for our dealer network to have access to inventory financing and the ability to work with a finance source that understands our distribution network," said Emmanuel Arri, vice president of finance and administration of Groupe Beneteau. "GE Capital has the industry expertise, ability and willingness to offer our dealer network flexible programs to help them reach their business goals."
For more than 55 years, CDF and its predecessors have worked with manufacturers and distributors to create inventory finance programs that enable marine dealers to stock a broad selection of products. Inventory financing, also known as floorplan financing, is an important element of a successful manufacturer-dealer business model. Manufacturers and distributors benefit from enhanced product flow and increased sales opportunities. Dealers obtain improved terms and credit availability.
"This new financing program will allow Beneteau's dealers to more efficiently manage their cash flows as they acquire product and ultimately sell through to consumers," said Bruce Van Wagoner, president of CDF's Marine Group. "In addition, dealers that choose to finance through GE Capital will obtain instant access to our unique online tools including customized inventory management reports and insightful benchmarking data."
About Groupe Beneteau
As the world's number one yacht builder --- both mono- and multihull --- Groupe Beneteau continues to develop in North America with a strong emphasis on capturing market share with its innovative powerboat brands while continuing to develop its leading position in the sailboat market.
The Beneteau, Jeanneau, Lagoon, Prestige and Monte Carlo Yachts brands offer more than 100 models ranging from 20' to 80'. Thanks to a network of nearly 40 dealers in North America, and over 200 representatives in more than 50 countries, Groupe Beneteau is able to accompany its customers worldwide.
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 www.americas.gecapital.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 (NYSE: 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.
Lisa Tibbitts
GE Capital
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+1 203 956 4582
+1 203-803-6142