ST. PAUL, Minn.--(BUSINESS WIRE)--April 12, 2006--GE Consumer Finance's Retail Sales Finance unit today announced a five-year agreement with Craft-Bilt Manufacturing to provide a new consumer credit program that will enable customers to finance sunrooms and awnings. The new Betterliving program includes revolving credit and installment lending options, which will be available beginning April 15, 2006, through 47 Betterliving dealerships nationwide.
Craft-Bilt's signature product line, Betterliving Sunrooms, is among the most recognized brands in the sunroom business. Industry experts estimate that more than one-half million sunrooms are built in the United States each year, at a cost of $8,000 to $50,000 each.
"Craft-Bilt has a track record of performance and successful, long-term relationships with its dealers and customers. It is known for its Betterliving brand and first-rate products," said Bruce Christensen, home improvement industry leader for GE's Retail Sales Finance unit, part of GE Consumer Finance. For more than 18 years, GE has been a leading provider of consumer financing services for the home improvement market and serves millions of customers through contractors and retailers. "We are proud to partner with Craft-Bilt to support its dealers in offering flexible financing to homeowner customers."
Betterliving sunrooms, conservatories, greenhouses and patio rooms are sold by licensed dealers throughout the United States and Canada. The company also makes aluminum and fabric awnings, patio covers, windows and doors at its 214,000 square foot facility in Souderton, Pennsylvania.
"We're very excited about working with GE Consumer Finance," explained Andy Stone, president of Craft-Bilt. "This new financing program makes it easier for customers to get the financing they need, and our retailers will find it is easier to close more sales with deferred interest and other financing promotions. It really benefits everyone."
About Retail Sales Finance and GE Consumer Finance
Retail Sales Finance, based in Kettering, Ohio, is part of GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: powersports, home improvement, outdoor equipment, automotive/recreational vehicles, consumer electronics and appliances, furniture, floor covering, jewelry, and health care. With $163 billion in assets, GE Consumer Finance, a unit of General Electric Company (NYSE: GE), is a leading provider of credit services to consumers, retailers and auto dealers in approximately 50 countries around the world. GE Consumer Finance, based in Stamford, Connecticut, offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
ABOUT CRAFT-BILT
Standing behind every Betterliving product is Craft-Bilt, a sunroom manufacturer dedicated to quality, consistency, and customer service. The company was founded in 1946 and today is a leading manufacturer of sunrooms, patio rooms, patio covers, aluminum awnings and retractable canvas awnings. All Craft-Bilt products are covered by a 15-year warranty backed in its entirety by Craft-Bilt Manufacturing Company. You can find out more about Craft-Bilt and Betterliving Sunrooms by visiting the company's website at http://www.craftbilt.com.
(C) 2006 General Electric Company, All rights reserved.
Contacts GE Consumer Finance, St. Paul
Cristy Williams, 678-518-2596
[email protected]
or
Deborah Stone, 215-721-7700
[email protected]
Cristy Williams
[email protected]
678.518.2596