PRZOOM - /newswire/ -
Hoffman Estates, IL, United States, 2010/06/30 - Capital Solutions for the Home Product Industry (CSHPI) announced the launch of a dealer inventory financing program with Funai Corporation, the company behind the Emerson, Sylvania, Magnavox and Philips brand names. NYSE: GE
CSHPI is the trade name of GE Capital, Commercial Distribution Finance in the electronics and appliance industries.
Capital Solutions for the Home Product Industry (CSHPI) today announced the launch of a dealer inventory financing program with Funai Corporation. The program provides 30 days of interest-free financing for dealers that purchase Funai products with the Emerson, Sylvania, Magnavox or Philips brand names.
“We are impressed with Capital Solutions’ ability to deliver financing solutions for our dealers so they can stock the Funai products consumers want,” said Ernie Padalino, Senior Vice President of Sales, Funai Corporation. “With their national coverage and ability to increase our dealers’ purchasing capacity, Capital Solutions is helping Funai maintain strong relationships with our dealer network.”
“We are pleased to be selected by Funai to provide inventory financing for their dealers,” said Brian Quinn, CSHPI’s Vice President of Vendor Development. “Our program with Funai offers dealers a financial solution to bridge the time period between acquiring manufacturer inventory and selling through to consumers. This time period, known as the cash conversion cycle, is a critical component of dealer health.”
About Funai Corporation, Inc.
FUNAI Corporation, Inc., established in 1991, has offices in Rutherford, New Jersey and Torrance, California. Funai Corporation is the North American sales and marketing company for consumer electronic products manufactured by our parent company, Funai Electric Co., Ltd., of Japan, under the brand names of Sylvania, Magnavox, Symphonic and Emerson. Philips Television and video product sales and marketing for North America are done by our sister company P&F Corporation.
About Capital Solutions for the Home Product Industry (CSHPI)
Capital Solutions for the Home Product Industry (CSHPI.com) is a leading provider of specialized financing products and services for manufacturers, dealers and distributors in the electronics and appliance industries. CSHPI is the trade name of GE Capital, Commercial Distribution Finance in the electronics and appliance industries.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE (ge.com) operates in more than 100 countries and employs about 300,000 people worldwide.
Mark Chesney - GE Capital, Commercial Distribution Finance
P: +1 847 747 6518, M: +1 847 544 9362, E: Mark.Chesney1[.]ge.com.