April 30, 2014
GE Capital Canada expands vendor finance business With launch of Life Fitness equipment program
BURLINGTON--GE Capital Canada, a long-time provider of wholesale and retail financing for commercial trucking, construction and office imaging equipment manufacturers, announced an agreement with Life Fitness International Sales, Inc. to offer financing to health clubs and gyms across the country that want to buy Life Fitness equipment. The relationship with Life Fitness marks GE Capital Canada's first vendor program in the fitness equipment industry.
"We chose to join forces with GE Capital to make equipment purchases more affordable for our commercial customers," said Michael Gallagher, senior director of customer financing at Life Fitness. "Having financing options means gyms can get the equipment they want when they want it, while keeping more of their cash on hand."
"Since 1985, we have been developing vendor financing programs to help manufacturers across industries grow their businesses," said Paul DeMarchi, senior vice president and leader, vendor finance at GE Capital Canada. "Today, through these programs, we have relationships with 20,000 commercial customers. We combine industry knowledge, vendor program expertise and financial capabilities to develop solutions based on manufacturers' specific business concerns."
GE Capital Canada helps drive incremental product sales by offering innovative financing solutions to equipment manufacturers, distributors, dealers and resellers. In addition, its customized business intelligence tools provide manufacturers with the data necessary to identify new selling and upgrade opportunities that may generate repeat business and expand business relationships.
Life Fitness is the global leader in commercial fitness equipment. The company manufactures and sells strength and cardiovascular equipment under the brand names Life Fitness and Hammer Strength and distributes its equipment in more than 120 countries. Headquartered outside Chicago, in Rosemont, IL, Life Fitness is a division of Brunswick Corp. (NYSE: BC).
With 17 offices throughout Canada, GE Capital (www.gecapital.ca) offers a wide variety of financial products and services to address commercial financing needs in many phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise to develop custom solutions for your company. Some of the industries in which we specialize include transportation, construction, manufacturing, aerospace, automotive, mining, energy, wholesale, retail and restaurant and hotel franchise financing.