GE Money, Sales Finance Plays Key Role in American Renewal

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GE Money, Sales Finance continues to be one of the most active providers of consumer financing to retailers big and small across the United States. Heading into the traditional holiday shopping season, Sales Finance has added a number of new programs and announced renewed or expanded relationships with many long-term partners, representing more than 30,000 business locations nationwide.

Over the past month, Sales Finance announced new agreements including:

• Edwin Watts Golf– Launched last week, the Edwin Watts and GE Money Sport Finance program can be used at any of the company’s 70-plus domestic retail locations, and will be available for catalog and online purchases in 2010.
• The Tile Shop – Since 1984, The Tile Shop has grown from one store in Minnesota to 43 locations nationwide. The Tile Shop revolving credit card is part of the GE Money Home Design^SM program and can be used for the purchase of tile, supplies, tools, rentals, and installation and maintenance services.
• Oreck– The Oreck Power Card is available through 450 Oreck Clean Home Centers, as well as through its online store for the purchase of homecare items, including a variety of vacuum, air purification and other cleaning products.
• 1-800-Mattress – 1-800-Mattress offers products from most major manufacturers and has served more than two million customers over the past 30 years.
• Fender Musical Instruments Corporation– The Fender program is a manufacturer-sponsored agreement, rolling out to Fender's 3,000 dealer locations in mid-December.

Extensions have also been completed with a number of partners including:

• Husqvarna– Since 2004, consumers have used the Husqvarnafinancing program to purchase outdoor power products for forestry, lawn and garden care.
• Bassett Furniture – Over the past century, Bassett Furniture has grown to some 130 stores, offering a range of home furnishings and accessories. The Bassett Furniture Credit program has provided consumers with flexible payment options since 1998.
• KTM Power Sports – Established in 2002, the KTM installment-financing program is offered through more than 375 dealers across the U.S.
• Steinhafel’s Furniture– Originally formed in 2004, GE Money recently extended the Steinhafel’s Furniture Card program with this leading Wisconsin-based furniture retailer.
• Bernina– Considered to be the premier manufacturer of sewing and embroidery systems, sergers and embroidery software, Bernina products are sold in the U.S. through a network of more than 500 dealerships. The financing program has been in place since 2002.
• Pep Boys – One of the leading sellers of replacement tires in the U.S., Pep Boys has more than 570 retail stores, offering full-service vehicle maintenance and repair capabilities and payment options through the Pep Boys Credit Card program, which launched in 1996. The Company plans to add 40 locations for fiscal 2010.

“Sales Finance has been meeting the financing needs of consumers and Main Street retailers for decades, enabling businesses to offer installment and promotional financing to their customers. Since announcing the launch of our Web-based finance management portal GE Money Business Center in July, we’ve signed and announced an array of new sales financing agreements with more than one dozen small- to larger-sized independent businesses,” said Glenn Marino, Sales Finance’s president and CEO. “Today, we proudly provide consumer financing through more than 145,000 small to medium sized business locations retail locations across the United States.

Financing For Bicycles, Furniture, Flooring and More

In June and July, Sales Finance announced new deals with Art Van Furniture(Warren, Mich.), Michigan’s leading furniture retailer; mountain bike manufacturer and retailer Giant Bicycle; dealers of Dacor (Diamond Bar, Calif.) luxury appliances; MEGA Group USA, a buying group representing 2,300 stores; and Rooms to Go - Puerto Rico, expanding the existing relationship with Rooms To Go, Americas’ number one independent furniture company with more than 100 stores in the U.S. and Puerto Rico. Rooms To Go was recently featured in GE Capital’s American Renewal campaign.

In August, Sales Finance announced a multi-year program with ABC Warehouse (Pontiac, Mich.), a leading consumer electronics retailer in the Midwest, followed in September by an agreement with the Western Home Furnishings Association, representing more than 1,000 furniture retailers across the country.

Agreements announced in October included Carsmetics (Tampa, Fla.), an express accident services business with shops in Florida and California, Lumber Liquidators (Toano, Va.), the nation’s largest hardwood flooring company, and the National Association of Diesel Motorsports.

About GE Money

GE Money’s Sales Finance unit, based in Kettering, Ohio, is a part of General Electric Company’s GE Capital division, GE, which has extended more than $146 billion of credit to some 50 million consumers in the U.S. since January 2008. Visit GE Capital: Advertising to learn more about GE Capital’s role in the American renewal.

GE Money provides credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at www.gemoney.com, www.gecapital.com and twitter.com/gecapitalnews.

GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit www.ge.com, www.gereports.com and twitter.com/ge_reports.

©2009 General Electric Company, All rights reserved.

For GE Money:
Cristy Williams, 678.518.2596 or
cristy.williams@ge.com
twitter.com/GEMoneyUS

Copyright 2009 Business Wire

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