GE Money and Felt Bicycles, a designer, manufacturer and distributor of premium bicycles and accessories, announced a multi-year agreement to provide consumer financing at Felt dealers nationwide. The GE Money Sport card, managed by GE Money’s Sales Finance unit, provides cycling enthusiasts a revolving credit program with attractive rates and special promotions.
“I have seen the power of consumer financing offered by GE Money. It is a strong selling tool with proven results to help our dealers increase their average selling price on every single bike sale” said John Georger, national sales manager and general manager for Felt Bicycles. “We understand the need for tools like this in today’s market place, and as Felt continues to grow we also know the importance of assisting our dealers to help them grow with us. Partnering with a company as strong as GE Money is great for Felt Bicycles and great for our dealers.”
According to The National Sporting Goods Association, the U.S. had approximately 37.4 million bicycling participants age 7 and older in 2007, and the industry outlook remains steady with an anticipated $6 billion in sales this year. Cyclists’ interest range from triathlon, fitness biking to cross-country and track cycling, as well as mountain and BMX riding.
“We’re pleased to partner with Felt Bicycles on brining a financing program to their customers,” said Dennis Murphy, vice president of GE Money’s sporting goods industry. “It’s a great solution for making the purchases they need in a cost-effective, convenient manner.”
About Felt Bicycles
Felt Bicycles is a leading designer, manufacturer and distributor of its own proprietary branded premium quality bicycles, framesets, components and accessories. The company US office is located in Irvine, CA and its European office is in Edewecht, Germany. Felt Bicycles is an internationally recognized brand whose bicycles and products are currently sold in over 30 countries, worldwide. Athletes on Felt products have won numerous National and International events including World Championships, Olympic Medals, ESPN X-Games and other major national and international competitions. For more information on Felt Bicycles call (949) 452-9050 in the US or (49) 4405-928015 in Europe.
About GE Money
With more than $200 billion in assets, GE Money (gemoney.com), a unit of General Electric Company, (NYSE: GE) is a leading provider of retail banking and credit services to consumers and retailers in more than 50 countries around the world. With more than 130 million global customers, GE Money, based in London, UK, offers a range of financial products, including private label credit cards, personal loans, bank cards, mortgages, debt consolidation and home equity loans and credit insurance. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in more than 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment, sporting goods and travel.
GE is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.