GE Capital Commercial Distribution Finance (CDF) has been selected by Beneteau Group as a preferred provider of floorplan financing for its retail dealerships.
Approved Beneteau dealers in Canada and the US are eligible for vendor-subsidized interest support on specific brands including Beneteau, Jeanneau, Lagoon, Prestige and Monte Carlo Yachts, as well as preferred program terms for their wholesale purchases.
In Canada, Beneteau Group's Beneteau brand has approximately five dealers, Jeanneau has two and Prestige has one listed dealer.
“This new financing program will allow Beneteau's dealers to more efficiently manage their cash flows as they acquire product and ultimately sell through to consumers,” said Bruce Van Wagoner, President of CDF's Marine Group. “In addition, dealers that choose to finance through GE Capital will obtain instant access to our unique online tools including customized inventory management reports and insightful benchmarking data.”
According to GE Capital CDF, in 2011 it provided nearly US $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America.
“It is important for our dealer network to have access to inventory financing and the ability to work with a finance source that understands our distribution network,” said Emmanuel Arri, Vice President of Finance and Administration of Groupe Beneteau. “GE Capital has the industry expertise, ability and willingness to offer our dealer network flexible programs to help them reach their business goals.”
The announcement closely follows the news of another US-based finance provider forming a preferred program for Beneteau Group dealers based in Canada in April.