As the Australian distributor for MV Agusta, Cagiva and Husqvarna motorcycles, Paul Feeney's business is growing fast. Not only has the business grown in recent years, it has also dramatically changed.
In 1998, Paul had a very successful motorcycle retail operation on Queensland's Gold Coast. An old friend and former 500cc motorcycle champion, the late Barry Sheene then came to Paul with what was an attractive yet daunting proposal. "The idea was that I should jump from being a retailer to being the Australian distributor", Paul said. "That meant we'd have to finance a huge increase in turnover, and carry much higher stock levels than we'd ever dreamed of."
Paul didn't rush in, but he did go to Italy to discuss the details with the manufacturer. He concluded that the numbers did add up and that's where GE Commercial Finance came into the picture.
"We'd been with GE for our floor plan since the mid 80's", Paul said, "so we sat down and talked, and they could see the value in the business plan.
Their approach to distribution finance has been far more flexible than banks. Because they have much broader guidelines, we were able to open up the floor plan approach to cope with a 600% increase in business in just five years."
Paul added "At every phase of our growth, we've been able to sit down with the team at GE and work through the challenges. The bottom line? They've opened doors that would have been closed to us had we been relying on traditional sources of finance."
Paul Feeney,
Paul Feeney Group
Australian Distributor, MV Agusta, Cagiva, Husqvarna
Equipment Finance
With GE Commercial Finance, you'll experience a unique approach to finance that's been tailored to your business needs.
Along the way, we've helped many business owners like Bernie free up their cash flow, release equity in their assets and restructure their finances to secure their success.
If you're looking for a flexible and committed partner to help drive your business further, call GE Commercial Finance today and talk to one of our finance experts about making your business even more competitive.