GE Money, the consumer lending unit of General Electric Company (NYSE:GE - News), today announced the extension of a consumer financing agreement with The Toro Company, a leading worldwide provider of turf and landscape maintenance equipment and precision irrigation systems. The financing program, originally established between the two parties in 2004 and managed by GE Money’s Sales Finance unit, provides end user customers with revolving and installment credit option on Toro and Exmark equipment purchases. GE Money provides billions of dollars of consumer financing through more than 145,000 small and medium businesses on Main Streets across the United States.
The financing program offers a simple application process, fast credit review, and competitive rates and promotions on a complete line of Toro and Exmark equipment including stand-on mowers, zero-turn riding mowers, walk power mowers, snow blowers, and other yard and garden tools. These popular equipment brands can be found at mass retailers and independent dealers across the U.S. Individuals can find an approved Toro dealer in their area via GE Money’s online Business Locator.
As part of the program, Toro and Exmark dealers use GE Money’s Web-based finance management portal, Business Center. Business Center provides dealers with an easy, secure way to manage their credit programs and better serve their customers. Thousands of businesses use GE Money’s Business Center to securely access all the sales, operational, marketing and training tools they need at the click of a button.
“We’re pleased to extend our partnership with Toro and Exmark,” said Gary Slagle, vice president and general manager of the Outdoor Power Equipment industry for GE Money - Sales Finance. “For more than five years, we’ve jointly provided customer financing solutions to Toro and Exmark customers and we look forward to continued growth.”
About The Toro Company
The Toro Company (thetorocompany.com) is a leading worldwide provider of turf and landscape maintenance equipment, and precision irrigation systems. With sales of more than $1.5 billion in fiscal 2009, Toro’s global presence extends to more than 140 countries through its reputation of world-class service, innovation and turf expertise. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields.
About GE Money
GE Money’s Sales Finance unit, based in Kettering, Ohio, is a part of General Electric Company’s GE Capital division, (NYSE: GE), which has extended more than $146 billion of credit to some 50 million consumers in the U.S. since January 2008. Visit GE Capital: Advertising to learn more about GE Capital’s role in the American renewal.
GE Money provides credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 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 and sporting goods. More information can be found at gemoney.com, gecapital.com and twitter.com/gecapitalnews.
GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit ge.com, gereports.com and twitter.com/ge_reports.