CHICAGO (October 22, 2012) – Grow Boating, Inc. announced today that GE Capital’s Commercial Distribution Finance (CDF) business is the latest industry stakeholder to make a contribution in support of the industry-wide initiative.
CDF’s contribution will directly impact one of Grow Boating’s core strategic programs, Marine Five Star Dealer Certification (MFSDC), which features a set of standards for dealers to attain and provides tools that enable participants to enhance the retail experience. The funds will be used to create an MFSDC consumer awareness campaign to generate a stronger understanding of the benefits of purchasing from, and doing business with, a Marine Five Star Certified dealer.
“CDF’s support of the MFSDC program and Grow Boating shows its commitment to improving industry and dealer performance,” said Joe Lewis, Grow Boating chairman. “CDF is helping MFSDC enhance the consumer experience through formal processes such as continuous improvement and best practice sharing, which can contribute to more sales and stronger, more profitable dealerships.”
CDF provides inventory financing solutions, service and business intelligence to manufacturers and dealers of marine products. This type of arrangement, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of boats and related products from manufacturers.
“CDF has been in the marine industry for more than 50 years, and supporting the Grow Boating initiative is one way we support dealers and manufacturers,” said Bruce Van Wagoner, president of CDF’s marine division. “We also believe in the MFSDC program. In fact, more than 190 of our customers are certified and experiencing its benefits.”
“We are grateful for CDF’s contribution to this important initiative. It really shows dedication to our industry,” said Ben Speciale, president of Yamaha Marine Group and member of the Grow Boating Board of Directors.
“We know that MFSDC works to grow sales for dealers and we appreciate CDF’s contribution to helping us continue to educate consumers about the benefits of working with certified dealers,” said Mike Shedivy, marketing leader for Mercury Marine and member of the Grow Boating Board of Directors.
About Grow Boating: The Grow Boating Initiative is a cooperative effort by the recreational boating industry to promote the boating lifestyle and improve the boating experience to increase participation, and ultimately, sales of marine products and services. For more information and stakeholder resources, visit GrowBoating.org.
About GE Capital, Commercial Distribution Finance: GE Capital, Commercial Distribution Finance (CDF) provided nearly $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America in 2011. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. For more information, visit gecdf.com or follow company news via Twitter (@GEInventoryFin).