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 U.S. 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 is a leader in the engineering, manufacturing, marketing and distribution of compact and heavy construction equipment, attachments and articulated dump trucks. It 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. From 2008 through the year to date, GE Capital has financed nearly 50,000 Bobcat and Doosan heavy machines for end-users. For information about Bobcat’s history, click here: http://www.gereports.com/talking-turkey/. “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. “As part of GE, a global industrial company, we appreciate Bobcat’s dedication to research and development, and we’re excited about its new Acceleration Center in Bismarck, N.D.,” said Jim Kelly, general manager of GE Capital’s Vendor Finance business. “We look forward to our continuing relationship with these well-known brands.” In addition to financing, dealers who work through GE Capital benefit from a suite of inventory management capabilities as well as a robust retail program, efficient online tools and dedicated account management.