GE Capital Expands Sharp Electronics Relationship
GE Capital’s Commercial Distribution Finance (CDF) business announced it will begin providing floorplan financing to dealers that stock Sharp Electronics’ office imaging equipment. CDF has been providing financing to Sharp’s consumer electronics dealers for 25 years.
“Our goal is to demonstrate Sharp’s continued commitment to the OI dealer channel,” said Dan Wynne, director of B2B channel marketing at Sharp. “We know that financing programs such as this one help dealers obtain the products they need to further their sales goals.”
CDF will provide qualified Sharp dealers with streamlined credit approvals and simplified documentation requirements for their acquisition of Sharp multi-function copiers and multi-function printers. In addition, they may be eligible for an extended period of subsidized interest.
Floorplan financing, also known as inventory financing, allows dealers to stock, market and sell a wide variety of products from manufacturers. By providing an alternative to standard open account terms, programs such as this one can help dealers manage the cash conversion cycle from inventory procurement and service billing to accounts receivable collection.
“Today’s announcement is indicative of the convergence between the OI business and the information technology industry,” said Judy Toland, the new commercial leader of CDF’s technology, electronics and appliances business. “We’re likely to see more companies thinking long-term about the best ways to encourage and support this ecosystem as it continues to evolve.”
CDF provided more than $18 billion in financing to more than 1,300 IT distributors, value-added resellers and solution providers globally in 2013. It has supported the IT industry for more than 30 years.
Mahwah, NJ-based Sharp Electronics is the U.S. subsidiary of Japan’s Sharp Corp. Sharp is a worldwide developer of one-of-a-kind home entertainment products, appliances, networked multifunctional office solutions, LED lighting and mobile communication and information tools.