GE Capital's Commercial Distribution Finance business said it signed an enhanced strategic floorplan financing agreement with Independent Boat Builders Inc., a major U.S. boat manufacturer buying group.
The program covers 21 builders that sell more than 40 brands. Cumulatively, Benton, Ill.-based IBBI manufacturers sell more boats in the United States than any other entity.
The new program provides qualified IBBI boat brand dealers in the United States and Canada with special vendor-subsidized financing programs and terms as well as a dedicated staff with extensive marine industry experience that’s committed to providing world-class customer service. Additionally, dealers will have access to COMS, GE Capital Commercial Distribution Finance’s proprietary online inventory finance management tool, and Analytics Online, which provides crucial information and insights about inventory finance management.
"It’s important for our dealer network to have access to inventory from our member-owners and to have a financing source that understands our distribution network," IBBI president Tom Broy said in a statement. "GE Capital has the right industry expertise and the ability and willingness to offer flexible programs so our manufacturers and their dealer networks can reach their business goals."
"IBBI member products are turning quickly at retail, and GE Capital is excited to announce a new agreement with this well-established group," GE Capital Commercial Distribution Finance president Bruce Van Wagoner said in a statement. "This strategic program helps dealers manage their cash flow more efficiently as they acquire and stock the inventory they need to realize sales of the IBBI brands they represent.”