PRZOOM - /newswire/ -
Chicago, IL, United States, 2015/08/06 - Commercial Distribution Finance (CDF), a division of GE Capital, announced that its joint inventory-financing venture with Brunswick Corporation, Brunswick Acceptance Company (BAC), has been extended through 2019 - brunswick.com / GECDF.com. NYSE: GE
BAC provides boat dealers with a long-term source of wholesale inventory financing. The programs provided by BAC are exclusive to dealers of Brunswick boat brands and Mercury Marine engines in the United States. Brunswick boat brands include such prominent names as Sea Ray, Boston Whaler, Harris, Bayliner, Lund, Crestliner, and Lowe. BAC was originally formed in 2002; currently more than 600 dealers participate in the programs, often with multiple Brunswick brands in their dealerships.
“This successful partnership has provided a stable and competitive source of wholesale floor plan financing along with high-quality service to Brunswick marine dealers for more than a decade,” said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. “Through this extension, we are looking to ensure continued stability through 2019, while our partner, CDF, transitions to new ownership. BAC will continue to be an important part of our offering to dealers, and enhances the competitiveness of our brands.”
“We have built an even stronger relationship with Brunswick dealers as a result of the joint venture over the last 13 years, and we are delighted to continue to serve them,” said Bruce Van Wagoner, president of CDF’s marine business. “We will continue our successful collaboration with Brunswick to ensure the growth and health of the dealer network."
For more than 50 years and through all business and economic cycles, CDF has offered customer-centric floorplan financing programs that enable marine dealers to stock a broad selection of new and pre-owned products. Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model as manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability.
About Commercial Distribution Finance (CDF)
Commercial Distribution Finance (gecdf.com) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products.
GE (ge.com) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world.
Headquartered in Lake Forest, Ill., Brunswick Corporation (brunswick.com) endeavors to instill "Genuine Ingenuity"™ in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being.