Extreme Motorsports is pleased to announce that one of its divisions has launched a consumer financing campaign to a wide array of retailers, including the customers of Extreme, on a national basis.
The new program allows small businesses to offer branded charge cards to its customers at reasonable interest rates and an 80% approval rate. The company has already begun processing several applications.
The program is expected to attract 1,000 retailers through the rest of this year, and 10,000 through 2009. Extreme Motorsports estimates the potential revenue at $3.5 by the end of 2007.
McCaa, President and CEO of Extreme Motorsports, commented “The development this program through GE Money, a globally-recognized financial services firm, allows Extreme to amalgamate its manufacturing, marketing and sales capabilities with effective consumer financing. Now, we’re able to bridge the gap between a customer’s access to capital and a company’s cash management. Securing the relationship with GE Money and launching the national campaign underscores Extreme’s commitment to rapid growth and increasing shareholder value.”
He concluded, “”For the participants in the program, not only does it offer competitive interest rate options for consumers, but it also provides retailers with the ability to more effectively manage cash and inventory as a result of the 48-hour funding of the full customer purchase. Anyone who has managed a small business can appreciate the impact a 48-hour receivable turnover has on the company’s use of assets.”
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