GE Capital Expands Financing to Sharp Independent Office-Imaging Dealers
On June 26th, GE Capital’s Commercial Distribution Finance (CDF) business announced that it would begin providing “floor-plan” financing to some 400 independent office-imaging dealers that stock Sharp Electronics office-imaging. GE Capital’s 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 MFPs and printers. Dealers may also be eligible for an extended period of subsidized interest.
Floor-plan 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,” commented 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.”
Globally, in 2013, GE Capital’s CDF provided more than $18 billion in financing to more than 1,300 IT distributors, value-added resellers, and solution providers. It’s supported the IT industry for more than 30 years.