MISSISSAUGA, ON, Jan. 20 /CNW Telbec/ - GE Capital, Commercial Distribution Finance Canada announced today that the company has entered into an agreement with Yamaha Motor Canada Ltd. and has become the exclusive provider of financing for Yamaha's YMCF Dealer Inventory Finance Program.
GE Capital acquired the portfolio from Yamaha Canada's former financier, Textron Financial Canada Limited, and is now the exclusive provider of inventory finance for Yamaha under a multi-year financing program.
"Yamaha and GE Capital share a commitment to meet the financial needs of our Canadian dealer network," said Peter Hastings, Yamaha Motor Canada's Vice President, Corporate Services. "We are pleased that our new arrangement allows us to continue to operate the YMCF program, build on its long-running success, and continue to improve on the program's benefits to our dealer-network."
Leone Foxwell, Yamaha's National Manager, Inventory Finance, stated that "we are pleased to be working closely with GE Capital to provide innovative financing programs and superior service to our dealers."
GE Capital has begun providing floorplan financing to Yamaha Motor Canada's dealer network through the YMCF program as of January 1, 2010.
"GE Capital is proud to provide inventory financing in major markets around the world," said Jeff Malehorn, president and CEO of GE Capital, Commercial Distribution Finance. "We are excited to provide Yamaha Motor Canada's dealers with the funding, business intelligence and exemplary service that is enabling them to thrive in the marketplace."
About Yamaha Motor Canada
Yamaha Motor Canada Ltd. is a wholly owned subsidiary of Yamaha Motor Co. Ltd., based in Japan. Established in 1973, the company markets and distributes Yamaha motorcycles, ATV's, side by side vehicles, snowmobiles, outdoor power equipment, outboard motors, water vehicles and boats through nearly five hundred dealers across Canada. To learn more about Yamaha, visit www.yamaha-motor.ca.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance is a leading financing provider to manufacturers and their distributors. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. Additional information can be found online at www.ge.com/cdf or www.gecapital.ca/en/product/cdf.asp.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit ge.com.
SOURCE GE Capital Canada
For further information: For further information: GE Capital, Commercial Distribution Finance: Mark Chesney, (847) 747-6518, firstname.lastname@example.org; GE Capital: Ned Reynolds, (203) 229-5717, email@example.com; GE, Canada: Kim Warburton, (905) 858-5678, firstname.lastname@example.org; Yamaha Motor Canada Ltd.: Peter Hastings, (416) 498-1911, Peter_hastings@yamaha-motor.ca; Leone Foxwell, (416) 498-1911, Leone_foxwell@yamaha-motor.ca