Daily News: June 2, 2014

GE Capital Provides Financing to Marine Manufacturer Co-op

GE Capital’s Commercial Distribution Finance business announced it extended its strategic floorplan financing agreement with Independent Boat Builders.

Under this program, CDF anticipates funding over $3 billion for IBBI boat dealers. The program will provide qualified dealers with special, vendor-subsidized financing programs and terms, as well as a dedicated staff with extensive marine experience in order to provide world-class customer service.

Additionally, dealers will have access to COMS, CDF’s proprietary online inventory finance management tool, and Analytics Online, which provides crucial information and insights about inventory finance management.

“We are thrilled to continue the strategic program with the IBBI,” said Bruce Van Wagoner, president of CDF’s marine group. “We have enjoyed a strong relationship and we will continue to deliver valuable tools that IBBI members can leverage to help them succeed.”

IBBI is a boat manufacturer buying group based in Benton, IL. The program covers 24 manufacturers that sell 45 brands. IBBI is the largest cooperative buying group in the U.S. and Canada.