GE Capital to provide floorplan financing for Brammo dealers
GE Capital's Commercial Distribution Finance (CDF) business has agreed to provide Brammo Inc. with inventory financing to support the expansion of its dealer network in the U.S. In March, Brammo announced a retail financing agreement with Sheffield Financial of North Carolina.
In addition to supporting the expansion of the rapidly growing electric motorcycle manufacturer, the announcement reinforces GE's commitment to accelerate the adoption of hybrid and alternative fuel vehicles globally.
"We've proven that we can successfully marry technology with performance and now we're ramping up our efforts to deliver our unique products to the marketplace," said Craig Bramscher, founder and CEO of Brammo. "This program with GE Capital will support the rapid growth of our distribution network, allowing leading motorcycle dealerships to capitalize on the growing demand for electric motorcycles."
CDF already provides inventory financing for other brands of alternative fuel and hybrid motorsports products.
"Our deep expertise in the motorcycle sector leads us to believe that dealers are excited about advertising these new products to draw customers into dealerships," said Neeraj Mehta, president and CEO of CDF and a GE corporate officer. "We're glad to work with Brammo to drive the adoption of electric vehicles."