Nationwide provides purchasing power, marketing and finance programs to appliance, furniture, electronics, specialty electronics, custom installation and rent-to-own dealers.
Northpoint is a supplier of inventory lending and floorplan financing. It will provide Nationwide’s dealers with favorable members-only terms for inventory purchases.
“We’re pleased to bring our members more financing options with Northpoint,” said David Bilas, president and CEO of Nationwide. “We respect Northpoint’s expertise and know their professionals will bring our members creative solutions shaped by industry knowledge. We expect this to be a long and successful partnership.”
As a non-regulated lender, Northpoint offers flexible programs not found in today’s highly regulated banking environment, and can offer a more nimble response.
“The industry is evolving quickly, said John Durnien, SVP at Northpoint. “As consumer demand and buying patterns evolve along with product quality improvement and new features, turnover increases exponentially. Dealers will need to purchase more inventory to stay ahead of consumer demand, and they’ll need creative ways to enhance product turns profitably and quickly. We’re looking forward to helping them with our finance solutions.”
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