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GE Capital CDF, Brunswick Renew Marine Dealer Financing Venture

August 07, 2015, 07:23 AM
Filed Under: Marine

Commercial Distribution Finance (CDF), a division of GE Capital, announced today that its joint inventory-financing venture with Brunswick Corporation, Brunswick Acceptance Company (BAC), has been extended through 2019.

BAC provides boat dealers with a long-term source of wholesale inventory financing. The programs provided by BAC are exclusive to dealers of Brunswick boat brands and Mercury Marine engines in the United States. Brunswick boat brands include such prominent names as Sea Ray, Boston Whaler, Harris, Bayliner, Lund, Crestliner, and Lowe. BAC was originally formed in 2002; currently more than 600 dealers participate in the programs, often with multiple Brunswick brands in their dealerships.

“This successful partnership has provided a stable and competitive source of wholesale floor plan financing along with high-quality service to Brunswick marine dealers for more than a decade,” said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. “Through this extension, we are looking to ensure continued stability through 2019, while our partner, CDF, transitions to new ownership. BAC will continue to be an important part of our offering to dealers, and enhances the competitiveness of our brands.”

“We have built an even stronger relationship with Brunswick dealers as a result of the joint venture over the last 13 years, and we are delighted to continue to serve them,” said Bruce Van Wagoner, president of CDF’s marine business. “We will continue our successful collaboration with Brunswick to ensure the growth and health of the dealer network."

For more than 50 years and through all business and economic cycles, CDF has offered customer-centric floorplan financing programs that enable marine dealers to stock a broad selection of new and pre-owned products. Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model as manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability.

Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014.

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