GE Capital extends Formula Boat floorplan deal

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GE Capital’s Commercial Distribution Finance business announced a renewed agreement with Porter Inc. to provide floorplan financing options for dealers purchasing its Formula Boat brands.

“As one of the premier boatbuilders in the world, we are pleased to offer GE’s financing program to our family of Formula dealers. We have been working with GE Capital for over 20 years, as we value their commitment to the marine industry and their financing expertise,” Porter president Scott Porter said in a statement.

“Our relationship with leading boat brands like Formula is very important to us,” said Bruce Van Wagoner, president of the Commercial Distribution Finance marine group, in a statement. “We are pleased to be able to provide a customized financial solution to Formula’s dealers and we are looking forward to continuing our long relationship with the Formula team.”

Formula Boat models range in length from 24 to 45 feet, and are built in Decatur, Ind.

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Comments

One comment on “GE Capital extends Formula Boat floorplan deal

  1. DealersFirstFinancial

    For many dealerships to survive today’s economic environment, they must have two things:
    1) Inventory on hand for buyers to purchase
    2) A way to finance this inventory
    By further enhancing floorplan financing options, everyone is a winner. It’s great to see that GE Capital understands this need and is willing to help out various dealerships that purchase these boats.
    David Jenkins
    Dealers First Financial

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