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Northpoint & Capitol Launch Extended Term Inventory Finance Program

March 09, 2016, 06:50 AM
Filed Under: Dealer Finance

Northpoint Commercial Finance has launched an extended term floorplan finance program for Capitol dealers who are members of Nationwide Marketing Group.

Nationwide Marketing Group, North America’s largest buying and marketing organization, added Northpoint as an endorsed lender for their network of over 3,800 members. Dealers are able to take advantage of extended term programs, better manage inventory, extend cash flow and grow revenue through Northpoint’s flexible financing solutions. Capitol is among the first of the new Northpoint vendor relationships resulting from Nationwide’s endorsement

Capitol is a leading distribution source for residential systems contractors, retailers, PRO AV contractors and premium incentive resellers. They offer high-quality products, competitive prices and expert technical help.

Under the new agreement, Northpoint will offer Capitol dealers members-only extended terms on flexible inventory lending and floorplan financing solutions to help dealers thrive.

“Northpoint’s extended terms financing options make perfect sense for Capitol’s customers,” said Curt Hayes, President & CFO of Capitol. “It will enable dealers to purchase more of our products without tying up their cash in inventory, while supporting our working capital, liquidity and balance sheet strength.”

Northpoint’s senior leaders offer a world-class management team with more than two decades of experience in the industry. As a non-regulated lender, Northpoint offers flexible programs not found in today’s highly regulated banking environment, and can offer a nimbler response. In addition, every Northpoint client, regardless of size, is assigned their own dedicated account representative to serve as an ongoing financing strategist.

“Capitol dealers will benefit not only from the extended terms, but from a faster turnaround and our responsive, high-touch service,” said John Durnien, SVP at Northpoint. “And while we’ll be offering preferred terms to Capitol dealers who are Nationwide members, we will offer financing options to all Capitol dealers.”

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