Expanded wholesale relationship benefits dealers across Canada as network grows
MISSISSAUGA, ON --- GE Capital's Commercial Distribution Finance (CDF) business announced today that it has been named the preferred inventory financing provider for Visionary Motorsports Ltd., expanding a relationship that began in 2008.
Based in Edmonton, AB, Visionary is Canada's largest independent motorsports distributor, selling multiple brands --- Pitster Pro, Linhai, Cleveland Cyclewerks, Kipor and Hisun --- nationwide. Its current dealer base numbers about 190, but Neil Vanderkooi, director of business development and one of the founding owners, explained the company's aggressive growth plans.
"We're rapidly expanding our reach," he said. "At the same time, we're committed to helping our existing dealers take their game up a notch. GE Capital's financing and inventory management tools will be extremely beneficial."
CDF provides inventory financing, also known as floorplan financing, which allows motorsports dealers to stock, market and sell a wide variety of products from manufacturers. It's an important element of a successful manufacturer-lender-distributor business model. Manufacturers can focus on their core product development and production capabilities while distributors can focus on delivering products and services to dealers without having to worry about financing the inventory acquisition.
"Because of our long-standing position in the Canadian motorsports market," said Howard Shiebler, president and CEO of CDF in Canada, "we're prepared to help Visionary and its dealers analyze their inventory management processes. We'll also provide them with comprehensive market intelligence and digital account management tools that they can leverage to succeed."
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 33,000 dealers and 2,000 distributors and manufacturers in the U.S. and Canada 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 proprietary 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 (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