CHICAGO – January 13, 2016 — Commercial Distribution Finance* (CDF), a business of GE Capital, announced today it has extended its inventory financing program with Branson Tractor, a tractor distribution company, through 2019. The extension of the current agreement will be used to continue to support wholesale floor plan financing of compact tractors, backhoes, loaders, and mid-mount mowers.
Branson Tractor was founded in the US in 2003 and is owned by parent company Kukje Machinery in South Korea, which has been servicing the agriculture industry since 1968. Headquartered in Rome, Georgia, the company also has warehouse, assembly and distribution centers in Texas and Oregon. As Branson Tractor’s preferred-dealer financing provider, CDF will be supporting all the dealerships in network in both the US and Canada.
“Our relationship with CDF has provided Branson dealers with flexible financing for well over a decade now. This efficient financing platform allows Branson dealers to stock showrooms with inventory while enhancing cash flows,” said Ted Kim, president of Branson Tractor. “Since we have experienced significant growth over the last several years, we really value having a lender with a thorough understanding of our industry, and look forward to expanding this offering as more dealers are added to our network in 2016.”
“We are excited to build upon our rich history with Branson and remain committed to helping Branson dealers grow,” said Mike Horak, president of CDF’s outdoor products group. “Our industry expertise and broad relationships allow us to customize financing solutions and provide best-in-class service to Branson and its network of dealers.”
About GE Capital, Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. On October 13, 2015, Wells Fargo agreed to acquire CDF from GE Capital as part of a larger transaction that is expected to close in the first quarter of 2016. For more information, visit www.gecdf.com or follow company news via Twitter (GEInventoryFin).
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com
*On March 1, 2016, Wells Fargo acquired GE Capital’s Commercial Distribution Finance business, which is now part of the Wells Fargo Commercial Distribution Finance business.