Expanded wholesale relationship benefits dealers across Canada as
MISSISSAUGA, ON, Dec. 9, 2013 /CNW Telbec/ - GE Capital's Commercial
Distribution Finance (CDF) business announced today that it has been
named the preferred inventory financing provider for Visionary
Motorsports Ltd., expanding a relationship that began in 2008.
Based in Edmonton, AB, Visionary is Canada's largest independent
motorsports distributor, selling multiple brands — Pitster Pro, Linhai,
Cleveland Cyclewerks, Kipor and Hisun — nationwide. Its current dealer
base numbers about 190, but Neil Vanderkooi, director of business
development and one of the founding owners, explained the company's
aggressive growth plans.
"We're rapidly expanding our reach," he said. "At the same time, we're
committed to helping our existing dealers take their game up a notch.
GE Capital's financing and inventory management tools will be extremely
CDF provides inventory financing, also known as floorplan financing,
which allows motorsports dealers to stock, market and sell a wide
variety of products from manufacturers. It's an important element of a
successful manufacturer-lender-distributor business model.
Manufacturers can focus on their core product development and
production capabilities while distributors can focus on delivering
products and services to dealers without having to worry about
financing the inventory acquisition.
"Because of our long-standing position in the Canadian motorsports
market," said Howard Shiebler, president and CEO of CDF in Canada,
"we're prepared to help Visionary and its dealers analyze their
inventory management processes. We'll also provide them with
comprehensive market intelligence and digital account management tools
that they can leverage to succeed."
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion
in financing for more than 33,000 dealers and 2,000 distributors and
manufacturers in the U.S. and Canada in 2012. Programs include
inventory and accounts receivable financing, asset-based lending,
private label financing, collateral management and related financial
products. Customers have access to proprietary online tools and
analytics to manage their accounts and inventory. For more information,
visit http://www.gecdf.com/ or follow company news via Twitter https://twitter.com/GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
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SOURCE: GE Capital, Commercial Distribution Finance
For further information:
GE Capital, Americas