GE Capital's Commercial Distribution Finance (CDF) business announced that it will continue to be the exclusive provider of inventory financing for the Husqvarna Group's independent dealer network in the United States and Canada. Headquartered in Charlotte, N.C., Husqvarna manufactures a variety of outdoor power products, including chainsaws, trimmers, lawn mowers and garden tractors.
This agreement is an extension to a private label program, branded Husqvarna Financial Services in the U.S., which launched in 2005. HFS provides financing to more than 3,500 independent dealers across North America.
"It's critical for our dealer network to have access to inventory financing, so it's important that our finance company understands their needs," said Mike Jones, president of Husqvarna North America and Latin America Sales and Services Division. "GE Capital has the industry knowledge and financial strength to offer flexible programs to help them grow their businesses and navigate seasonal ups and downs."
CDF supports the outdoor products industry with customer-centric financing programs to enable dealers to stock a broad selection of products. Inventory financing, also called floorplan financing, is an essential component of a successful manufacturer-dealer business relationship. Manufacturers benefit from improved product flow and increased sales opportunities, and dealers obtain enhanced credit availability and flexible programs.
"The continuation of our financing program will allow Husqvarna's dealers to more efficiently manage their cash flows as they acquire product and ultimately sell through to consumers," said Mike Horak, president of CDF's outdoor products group. "In addition, dealers that choose to finance through HFS will obtain instant access to our unique online tools, including customized inventory management reports and insightful benchmarking data."
The Husqvarna Group is a global producer of outdoor power products, including chainsaws, trimmers, lawn mowers and garden tractors. It is also a European leader in consumer watering products and a global supplier of cutting equipment and diamond tools for the construction and stone industries.
GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 40,000 manufacturers, dealers and distributors across North America in 2012. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products.
