GE Capital Solutions of Hoffman Estates, Ill., and Brunswick Corp. of Lake Forest, Ill., are expanding their inventory finance program into Latin America.
“For more than a decade, GE Capital Solutions has provided inventory financing solutions in Latin America in industries including electronics, technology and appliances,” said Thomas Grathwohl, managing director for GE Commercial Distribution Finance Latin America, in a statement. “GE will use its 30-plus years of experience in the marine industry and global process capability to benefit Brunswick’s Latin American dealers.”
Brunswick and GE Capital Solutions’ Commercial Distribution Finance began working together in 2003 to provide a stable, long-term source of wholesale floorplan financing for Brunswick boat dealers through a joint venture called Brunswick Acceptance Co.
The program was designed to provide financing that more closely matches a dealer’s sales cycle, allowing a dealer to carry the increased levels of inventory required to meet customer needs in Latin America.
“The development of this financing program for Latin America will allow our dealers to optimize their inventory of Brunswick boats, which is essential in this expanding region,” said William Metzger, Brunswick vice president and treasurer, in a statement.