GE Capital and construction equipment manufacturer JCB reached an agreement to provide financing to JCB’s U.S. dealerships, allowing them to better manage wholesale floor planning by obtaining more flexible payment terms and increased liquidity.
“GE Capital is a trustworthy and resourceful financing partner,” said Ken Bianco, vice president of commercial operations at JCB. “GE’s cash flow management options, combined with their powerful suite of online management tools, will support our dealers’ continued growth objectives.”
GE Capital has a 25-year history in the construction equipment industry, and thousands of dealers currently rely on the company’s COMS system to manage inventory finance transactions online.
“We’re seeing signs that the construction industry, both residential and commercial, is starting to strengthen again,” said Kristi Webb, commercial leader of GE Capital’s dealer finance division. “We are ready to be a reliable source of financing for JCB’s dealers as they prepare for improving market conditions. In addition to our inventory financing capabilities for equipment manufacturers and dealers, we are also making significant additional investments in best-in-class online tools that will assist dealers with their financing needs. Our tools allow them to obtain speedy decisions on credit applications, easy document preparation and same-day funding decisions.”
JCB is based in Staffordshire in the U.K., with U.S. headquarters in Savannah, Ga.