MISSISSAUGA, ON, Nov. 23 /CNW Telbec/ - Forest River Inc. announced that GE Capital Commercial Distribution Finance Canada has been selected as the exclusive wholesale lender for Forest River's 90-day interest reimbursement program in Canada.
This program will allow Canadian dealers to be reimbursed by Forest River for interest charges on new inventory financed through GE Capital. All Forest River products invoiced on or after Oct. 1 and retail sold within 90 days are eligible under the program, according to a news release.
"Forest River recognizes that recent market conditions have challenged the RV industry both in the United States and in Canada, and this is why we continue to provide dealers the opportunity to earn incentives on every Forest River unit," said Joseph P. Greenlee, Forest River CFO. "Our interest reimbursement program through GE Capital gives Canadian Forest River dealers an added boost to help them during this selling season."
GE Capital's Commercial Distribution Finance business provides financing options that include inventory financing, purchase order financing, accounts-receivable working capital loans and other programs for recreational vehicles and other industries. The Forest River interest reimbursement program is an exclusive program for dealers in Canada and the U.S. All program purchases must be financed by GE Capital. Dealers must pay interest charges to GE Capital and then apply to Forest River for the interest refund. Forest River determines the dealer's eligibility for the program and administers all payments.
"CDF Canada is pleased to be selected by Forest River to help provide a program that aligns the interests of dealers, the manufacturer and the lender," said Peter Ringler, president and CEO for GE Capital's CDF Canada business. "We believe the Forest River 90-day interest reimbursement program provides a strong incentive for dealers to sell through at retail in today's market."
About Forest River
Forest River, Inc. is a manufacturer of recreational vehicles, utility cargo and office trailers, buses, pontoon boats, and modular housing. Forest River, Inc. is a wholly owned subsidiary of Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B).
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance is a leading financing provider to Marine, RV, Motorsports, Electronics & Appliances and other durable goods 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.
GE Capital offers consumers and businesses around the globe an array of financial products and services. 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. For more information, visit the company's Web site at www.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