Name change for GE’s Consumer Finance unit

KETTERING, OHIO – GE Consumer Finance’s Retail Sales Finance unit is changing its name to GE Money – Sales Finance, the company reported in a release yesterday.

GE said new markets, new products and a new focus have translated into a new name for one of its fastest growing business units. The unit has achieved double-digit growth over the last four years and has doubled its assets in just the past two, reaching $16 billion.

GE Money’s Sales Finance division extends financing, installment lending, revolving credit, private label credit cards, bank card programs and other financing solutions to independent and regional retailers, dealers, manufacturers, service providers, health care professionals and consumers.

“The new name reflects how we’ve evolved beyond the retail space,” said Glenn Marino, president and CEO of GE Money’s Sales Finance unit. “We’re broadening our markets, channels and product offerings – all focused on helping our partners grow their businesses by offering simple, fast and flexible financing programs to their customers.”

Much of the business unit’s growth is fueled by new product introductions, strategic acquisitions and partner alliances in more than 20 industries. Growth has been particularly robust in healthcare, power products, home improvement, furniture, consumer electronics, jewelry, sporting goods, recreational vehicle and marine segments. Organic growth and client renewals have also contributed to the division’s continued progress, the company said.

The business was started more than 50 years ago and has grown exponentially in the past few years. Industry-specific knowledge and stability has earned Sales Finance a reputation as proven experts in creating customized financing programs

Sales Finance will launch a GE Money-branded finance program for sporting goods later this month.

“The new brand is about simplicity, providing powerful business building tools for our partners, and creating a consistent experience for partners and customers,” explained Marino. “It’s easier than ever to do business with us.”

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