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VERMEER SELECTS GE CAPITAL TO PROVIDE ITS DEALERS' INVENTORY FINANCING
Oct. 24, 2012
Source: GE Capital news release
GE Capital, Commercial Distribution Finance (CDF) has been selected by Vermeer Corporation as a preferred provider of floorplan financing for its agricultural equipment distribution network in the U.S. and Canada.
Headquartered in Pella, IA, Vermeer develops and manufactures a variety of equipment for use in agriculture as well as other industries, including construction, landscaping, mining and tree care.
Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model. Manufacturers benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved credit availability and terms.
"GE Capital is working with us to provide customized financing programs beyond our internal inventory finance capabilities with enhanced customer service to help our distributors to grow sales," said Jill Blanco, global dealer finance manager for Vermeer.
"GE Capital's industry expertise and technological innovations make it an ideal financing partner for our agricultural distribution network."
"We're pleased to have this opportunity to help Vermeer grow its business," said Steve Battreall, CDF's chief commercial officer. "We have deep expertise in the agriculture industry so we're looking forward to helping its dealers improve their liquidity and manage their cash."
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