GE Capital's Commercial Distribution Finance business extended its strategic floorplan financing agreement with Independent Boat Builders Inc.
The program covers 24 manufacturers that sell 45 brands.
Under the program, CDF anticipates funding more than $3 billion for IBBI boat dealers. The program will provide qualified dealers with vendor-subsidized financing programs and terms, as well as a staff with marine experience. Additionally, dealers will have access to COMS, CDF's proprietary online inventory finance management tool, and Analytics Online.
“GE Capital’s knowledge of our business model and the marine industry has made a big impact with our members over the last several years," IBBI president Tom Broy said in a statement. "We are pleased to be able to extend GE’s flexible financing programs and superb management systems through 2017.”
“We are thrilled to continue the strategic program with the IBBI," CDF's marine group president Bruce Van Wagoner said. "We have enjoyed a strong relationship and we will continue to deliver valuable tools that IBBI members can leverage to help them succeed.”
Established in 1989, IBBI, based in Benton, Ill., is the largest cooperative buying group in the United States and Canada, with IBBI manufacturers selling more boats in those countries than any other entity.