GE Capital's Commercial Distribution Finance business announced two initiatives to demonstrate its commitment to the trailer industry.
It launched a financing program for dealers of all types of trailers that will extend suppliers' standard financing terms by 60 days; this includes dealers in the cargo, race car, horse, marine, dump and flatbed markets, among others.
The Commercial Distribution Finance division also recently became a member of the North American Trailer Dealer Association.
"Our goal is to create an environment in which dealers can feel more comfortable building inventory. We think it will be an effective way to help trailer manufacturers grow their business by adding to their dealer base," Marvin Solomon, managing director for Commercial Distribution Finance's strategic industries group, said in a statement.
The "Extra 60" promotion will add 60 days to suppliers' terms for all dealer invoices purchased within the first 30 days from the credit activation date and financed via Commercial Distribution Finance. The promotion is available to new and current dealers that add additional product or brand lines, and it is in effect until June 30.
Solomon noted that the Commercial Distribution Finance division joined the trailer dealer group to increase its participation in the trailer industry. The group is a trade association that unifies all members of the industry, including product and service vendors, financial institutions and insurance companies, as well as trailer manufacturers and dealers.