ST PAUL, Minn.--(BUSINESS WIRE)--GE Money's Sales Finance unit and Bath and Kitchen Buying Group, the industry's only member-owned buying group, today announced a new relationship to provide private label revolving and installment credit options through GE's REFINEDesign and PROJECTLOANSM programs. This multi-year partnership recently launched nationwide to the BKBG network of 200 independent dealers.
The new credit program offers a quick, easy application and sales process with promotional financing and deferred interest terms available. Formed in 1995, BKBG is a buying group within the kitchen and bath industry. It currently has 200 members with 250 showrooms in 47 states and expects to add an additional 200 members over the next year.
"Having our own private label credit card is a great way to increase customer awareness and loyalty with our organization," said Bill Mathisen, executive vice president of BKBG. "Our dealers can now offer customers the financing options they are requesting."
Americans spent a record $215 billion on residential remodeling in 2005, according to the National Association of Home Builders' (NAHB).
Over the past 15 years, GE Money's Home Improvement division has been an industry leader, providing more than $13 billion in home improvement financing to nearly half a million homeowners.
"BKBG is a recognized leader in the industry for connecting consumers with contractors to enhance the spaces we use the most," said Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money -- Sales Finance. "Offering customers a choice of flexible financing options, combined with marketing expertise and our dealer and customer service, gives them additional tools to grow their business."
About Bath and Kitchen Buying Group
Bath and Kitchen Buying Group is a national group of prominent kitchen and bath dealers and re-modelers who meet the high standards necessary for membership. Members are recognized in their markets and in the kitchen and bath industry as professionals committed to excellence who work with quality manufacturers, suppliers and trades people to bring the customer the best workmanship and finest products available for their investment. For more information, visit www.bkbg.com.
About Sales Finance and GE Money
Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance, and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in more than 20 industries including: home improvement, sporting goods, powersports, outdoor equipment, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
With $163 billion in assets, GE Money, 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 Money, based in Stamford, Conn., 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 at www.gemoney.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.
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Contacts
GE Money
Cristy Williams, 678-518-2596
[email protected]
Cristy Williams
[email protected]
678.518.2596