Tag Archives: GE Capital

As the economy and the marine industry have improved over the past few years, the floorplan financing market has followed suit. Banks are lending more as dealers are looking to stock more boats to meet consumer demand, which is causing dealers to experience high turn rates.  “Growth in the marine industry has been great the past few years and inventory ...

Wells Fargo & Company announced Friday it has completed the purchase of the Asia segment of GE Capital’s Commercial Distribution Finance business. The acquisition includes CDF assets and 46 team members in markets where Wells Fargo currently operates in Asia Pacific, with the exception of Australia and New Zealand, which are expected to close later this year. “Asia is an ...

1:32 pm Updated with comment from Marine Group president Bruce Van Wagoner GE will sell a $30 billion piece of its commercial lending operations, including Commercial Distribution Finance, to Wells Fargo. GE Capital CDF is the largest provider of floorplan financing in the marine industry. “We’re very excited to be joining Wells Fargo, a respected industry leader who is committed ...

Wells Fargo is the frontrunner to buy several parts of the GE Capital portfolio, including Commercial Distribution Finance, Reuters reported. GE Capital Commercial Distribution Finance is the leading provider of floorplan financing in the marine industry. Representatives from GE declined a request from Boating Industry to comment on the report. A “person with direct knowledge of the situation” told the ...

The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com. 1. Mandatory life jackets would reduce deaths by 80 percent, study says More than three quarters of boating deaths could be prevented if life jacket use was mandatory, a ...

Brunswick Corporation (NYSE: BC) today announced an extension of its joint venture with Commercial Distribution Finance (GECDF), a division of GE Capital, through 2019.  The joint venture, Brunswick Acceptance Company (BAC), was formed in 2002 and the current agreement was to expire at the end of 2016. “This successful partnership has provided a stable and competitive source of wholesale floor ...

Wells Fargo would still like to acquire more of GE Capital’s lending assets, but expects competition to be tough, the bank’s CFO said during an earnings call Tuesday. GE announced in April that it would be selling off most of its lending operations, including its commercial lending business, the largest provider of floorplan financing in the marine industry. Wells Fargo, ...

GE Capital, Commercial Distribution Finance (CDF) has expanded its inventory financing program with Bass Pro Shops and Tracker Marine to include the distribution network of Fishing Holdings, LLC. The agreement will run through 2018. Bass Pro Shops recently acquired Fishing Holdings, a manufacturer of fiberglass and aluminum fishing boats that includes the Ranger, Stratos and Triton brands. Fishing Holdings will ...

General Electric has launched the bidding process for the U.S. portions of its dealer financing and corporate finance business, Dow Jones News Service reported. The $40 billion piece of the business represents more than half of GE’s commercial lending operations and is part of the company’s plans to get out of the finance business, as it announced in April. The ...

Wells Fargo has emerged as an early candidate to purchase GE Capital’s $74 billion commercial lending and leasing portfolio, according to multiple published reports. Last week, GE announced its plans to sell GE Capital, which provides much of the floorplan financing for the marine industry. The company is looking to simplify its business and escape from the regulatory oversight that ...