STAMFORD, Conn. and WARREN, Mich.. – January 26, 2011 – GE Capital’s Retail Finance business, a consumer lending unit of General Electric Company (NYSE: GE), announced today the extension of their agreement with Art Van Furniture, Michigan’s largest furniture retailer, to provide consumer financing through the retailer’s 34 store and online locations.
The multi-year agreement, backed by GE Capital, was initially launched in 2009 and will continue to offer a range of flexible payment options and extended terms, including deferred interest programs, through the Art Van Signature Card credit program.
“Our relationship with GE Capital has contributed to Art Van’s growth and helped us meet our business goals,” said Ken Bussell, director of consumer finance for Art Van. “We are pleased to renew our financing program and continue offering our customers the tools and programs they value.”
With 34 locations across Michigan and more than 50 years in the industry, Art Van is the only independent family-run furniture store of its kind in the Midwest. Consumers can use the Art Van Signature Card at any store location and the Art Van website, www.artvan.com, to purchase a wide range of living room, bedroom, dining room and family room furniture, as well as mattresses, home office, home entertainment and leather furniture. Consumers can also use the card at any Paul’s TV and World of Floors locations in an Art Van store. The company also operates four stand-alone PureSleep bedding stores.
“We are proud to continue leveraging our market expertise and leadership in the industry to provide excellent service for both Art Van and their customers,” said Paul Boeckman, vice president, strategic programs, for GE Capital’s Retail Finance business. “While we are thrilled this relationship has added to their business success, we see it as just the beginning and want to set the bar higher in delivering customer satisfaction and reaching new buyers.”
For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States and is a leading service provider in the furnishings industry.
About Art Van Furniture
Ranked number18 in Furniture Today’s Top 100 Retailers in 2010, Art Van Furniture is Michigan's largest furniture retailer and America's largest independent furniture retailer. The company operates 34 stores in 33 communities throughout Michigan, a full service e-commerce website, plus four freestanding Art Van PureSleep bedding stores in Canton, Troy, Ann Arbor and Rochester Hills, Michigan. Founded in 1959, the company is family-owned and headquartered in Warren, Michigan. Visit artvan.com for more information.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.