Daily News: July 30, 2013

GE Capital Retail Finance Celebrates 80 Years

GE Capital’s Retail Finance said it is celebrating 80 years of providing financial solutions to retailers to help grow their customer sales and enable consumers to buy the products and services they need and want.

GE Capital’s Retail Finance business traces its roots to the 1930s when the economy was rebounding and consumers wanted payment options to purchase the GE appliances they needed, including GE’s first electric dishwasher.

GE Capital said the business provides customized credit programs to retailers and consumers in the United States and Canada, including private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as promotional and installment lending, bankcards and financial services for consumers through dealers, contractors, manufacturers, healthcare practices, associations, and service providers.

“We’ve been working with the GE Capital credit card program for over 30 years to provide our customers with financing options to help them accomplish their home improvement projects,” said Dennis Knowles, Lowe’s executive for U.S. Stores. “Congratulations to GE Capital’s Retail Finance business on eight decades of success. Thank you for working with Lowe’s and our customers to help grow our business over the years by always looking for new ways to improve.”

“Today, more than ever, private label credit cards and special financing programs play a significant role in building business for the retailer and stimulating customer loyalty and satisfaction,” said Margaret Keane, CEO and president, GE Capital’s Retail Finance business. “Beyond the eight decades of consumer financing expertise, we bring innovative solutions to our clients, including deep industry knowledge, marketing and analytic capabilities, and tools that help them enhance sales and service.”

To read the complete GE Capital news release click here.