GE Capital Commercial Distribution Finance today (Jan. 19) announced it has been selected as the exclusive wholesale floorplan financing lender for Suncoast RV Center Inc., Jacksonville, Fla., according to a news release.
The program will allow Suncoast RV to finance up to $25 million in new and used RV inventory for its six dealerships across the Southeastern U.S.
“Suncoast is pleased to be working with GE Capital on this program,” said Fred Hassan, Suncoast RV chairman. “During the current market environment of increased focus on lending and risk, we are confident that we have the backing of a strong financial provider like GE Capital.”
GE Capital’s Commercial Distribution Finance division provides financing options that include inventory financing, purchase order financing, accounts-receivable working capital loans and other programs for recreational vehicles and other industries.
“CDF is pleased to be selected by Suncoast to provide their inventory financing program,” said Peter Lannon, managing director – RV for GE Capital’s CDF business. “We look forward to providing them with funding, business intelligence and services to enable them to grow.”
Family-owned Suncoast RV operates dealerships in Florida, Georgia and Alabama. Established in 1982, Suncoast RV has grown to become a top 10 Winnebago Industries Inc. dealer, a top 5 Keystone RV Co. dealer and also represents more than a half-dozen additional RV manufacturers covering the complete spectrum of motorized and towable RVs types. Suncoast RV, a recipient of the Winnebago Circle of Excellence Award, also provides RV service, parts and accessories sales and RV body shop service, as well as being a regional leader in the sale of new and used RVs.