GE Capital Extends Financing Relationship with Doosan Businesses
GE Capital, Equipment Finance has extended its 44-year vendor financing relationship with multiple Doosan businesses through December 2017. The agreement provides inventory and retail financing for Doosan and Bobcat-branded equipment in the United States and Canada.
GE Capital and its antecedent companies have been financing equipment for West Fargo, N.D.-based Bobcat Co. since 1969. The relationship expanded to include financing for Doosan-branded heavy equipment in 2012.
Doosan Infracore Construction Equipment, which manufactures, markets and distributes compact and heavy construction equipment, attachments and articulated dump trucks, acquired Bobcat, a leading provider of compact equipment for global construction, rental, landscaping, agriculture, grounds maintenance, government, utility, industrial and mining markets, in 2007.
“This long-standing relationship with GE Capital and its expertise in the heavy equipment market helped us increase the presence of the Doosan brand in the U.S.,” said Ed Hetherington, president of Doosan Infracore Financial Solutions. “We’re pleased with the success of these programs.”
Over the past year, GE Capital has expanded the program’s credit lines to accommodate increased growth of both the Doosan and Bobcat brands. Since 2008, GE Capital has financed nearly 50,000 Bobcat and Doosan heavy machines for end-users.
“As the Bobcat and Doosan businesses continue to grow, we look forward to working with GE Capital to develop new financing solutions for our dealers,” said Rich Goldsbury, Bobcat and Doosan president for North America and Oceania.
Doosan Infracore Construction Equipment is a global strategic and business alliance of the construction equipment businesses of Doosan Infracore Co. Ltd. and its affiliates, including Doosan Infracore International. Its brands include Doosan, Bobcat, Montabert, Geith, Tramac, Doosan Moxy and Doosan Infracore Portable Power.
GE Capital’s Equipment Finance businesses include Vendor Finance, Transportation Finance and Healthcare Financial Services-Equipment Finance. For more information, visit www.gecapital.com.
