"Cutting Edge" Program Offers Payment Options for Power Equipment Direct Purchases
KETTERING, Ohio ---July 28, 2008--- GE Money and Power Equipment Direct, a leading online outdoor power equipment (OPE) retailer, specializing in generators, pressure washers and air compressors, today announced a multi-year agreement on a credit program that provides flexible financing options for purchases of Power Equipment Direct products.
The "Cutting Edge" financing program includes revolving payment options and is available through GE Money's Sales Finance unit. The program is available to residential consumers who make purchases through any of Power Equipment Direct's four online stores: SnowBlowersDirect.com, AirCompressorsDirect.com, ElectricGeneratorsDirect.com and PressureWashersDirect.com.
Power Equipment Direct began in 2003 and was founded on the premise of simplified shopping. Through its web sites, customers can sort through all of the leading OPE products online from the comfort of their homes - no traffic jams, no crowds, no scratched tailgates. Power Equipment Direct streamlined the sales process and rewarded customers with factory-direct discounts and a sales tax-free guarantee on its vast selection of products.
"Since our foundation, our goal has been to provide a positive experience for purchasing power equipment," said Tony Weir, president and chief operating officer for Power Equipment Direct. "Through our partnership with GE Money, our customers have a new, easy way to break payments down over a number of months and access their account information online, further simplifying the buying and budgeting process."
"Offering financing programs is a key way to make the purchase of power equipment easier and cost effective for buyers," said Gary Slagle, vice president and general manager of the OPE industry for GE Money -- Sales Finance. "The Cutting Edge program will facilitate the purchasing process for Power Equipment Direct customers."
About Power Equipment Direct
Based in Bolingbrook, IL Power Equipment Direct operates four online stores: SnowBlowersDirect.com, AirCompressorsDirect.com, ElectricGeneratorsDirect.com and PressureWashersDirect.com.. The first web store, PressureWashersDirect.com, was launched in 2003. Since then, Power Equipment Direct has grown to be a leading online power equipment e-tailer with millions in annual sales. Power Equipment Direct is currently ranked #358 in the Internet Retailer™ Top 500 and is #566 in the Inc Magazines fastest growing company listing. For more information, visit www.powerequipmentdirect.com.
About GE Money
With more than $200 billion in assets, GE Money, a unit of General Electric Company, (NYSE: GE) is a leading provider of retail banking and credit services to consumers and retailers in more than 50 countries around the world. With more than 130 million global customers, GE Money, based in London, UK, offers a range of financial products, including private label credit cards, personal loans, bank cards, mortgages, debt consolidation and home equity loans and credit insurance. More information can be found at www.gemoney.com. GE Money's Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in more than 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, sporting goods and travel.
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.
Cristy Williams
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678.518.2596