GE Capital extends dealer financing programme
By Sarah Ann McCay30 January 2014
GE Capital, Equipment Finance is expanding its North American financing programme for dealers to enable them to purchase construction equipment for their rental fleets.
According to GE Capital, half of US dealers offer rentals in addition to sales, with that figure set to grow in 2014 and beyond.
Jim Kelly, managing director of GE Capital’s Vendor Finance business, said; "At a time when contractors and construction companies are reluctant to commit to large purchases, equipment dealers are seeing success by offering end-users the latest machines without the big payments."
According to Mr Kelly, dealers will pay cash for equipment that costs less than US$10000, but may seek financing for more expensive machines.
GE Capital offers line-item financing where equipment is purchased unit-by-unit, allowing dealers more flexibility than an asset-based loan for a pool of equipment.