FOR IMMEDIATE RELEASE
GE Money and Slide-Lok Offer Consumer Credit Program
Garage Storage Cabinet Maker Slide-Lok Extends Financing Through Dealers
Phoenix, AZ September 6, 2006 -- To better address the market for garage storage and garage cabinets, expected to reach over $1.5 billion by 2009*, GE Money’s Retail Sales Finance unit and Slide-Lok, a leading provider of garage interiors and manufacturer of
garage storage cabinets, today announced a new consumer credit program for Slide-Lok’s
100-plus garage storage and garage cabinet dealers nationwide. The new program is available
According to the National Association of Home Builders, more than 91 percent of new
homes include a garage, and a growing number accommodate more than three-cars*. As Baby
Boomers age and their children reach their teens, the garage is used increasingly for activities, hobbies, and crafts. This results in an accumulation of sporting gear and clothing and creates the need for additional storage in the typical American home.
To help homeowners organize and repurpose their garage space, Slide-Lok dealers will offer consumer financing through GE Money’s PROJECTLINE(sm) private label credit card program. The benefits include an easy application process, fast credit decisions, promotional terms, and other offerings for Slide-Lok customers at the point-of-sale.
"The Slide-Lok company is very much like its garage cabinets—solid," said Bruce Christensen, vice president of GE Money’s Home Improvement division. "Their cabinetry is extremely well made, and homeowners appreciate that kind of quality for a multi-functional space like the garage. We’re pleased they selected us to help them continue to grow with a customer financing program."
Headquartered in Tempe, Ariz., Slide-Lok is recognized as one of the leading brands in garage cabinets and modular garage storage systems. "The demand we’re seeing for Slide-Lok’s modern, quality garage cabinet systems is very exciting," said Brian Strayer, president of Slide-Lok. "The PROJECTLINE Program will empower our customers. Buying high quality Slide-Lok garage storage and garage cabinets has never been easier."
Since 1977, Slide-Lok and its parent company Bass Cabinets have been producing high quality, durable cabinetry. Slide-Lok’s cabinets utilize a patented dovetail design, plywood construction, adjustable 6-way hinges, and Thermofuse doors—making Slide-Lok the quality leader. Slide-Lok’s dealer network includes more than 100 dealers across the United States and Canada. To learn more about Slide-Lok, visit www.slide-lokofthebayarea.com.
About Retail Sales Finance and GE Money:
Retail 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: powersports, home improvement, outdoor power equipment, automotive, recreational vehicles, marine, consumer electronics and appliances, furniture, floor covering, 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, 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 is 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.
Market research organizations SBI and Freedonia
National Association of Home Builders Housing Facts, Figures and Trends 2006