CENTRAL IRRIGATION SUPPLY AND CNH CAPITAL OFFER INNOVATIVE FINANCING SOLUTIONS
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Communications (630) 887-2345
RACINE, Wis. (October 1, 2007) – Central Irrigation Supply Co. ("Central Irrigation Supply"), based in Elmsford, N. Y., has entered into an agreement with CNH Capital America LLC ("CNH Capital"), the Racine, Wis.-based financial services business of agricultural and construction equipment maker CNH Global N.V., to offer a private label credit card to its approximately 3,000 landscape contractors. Cardholders will be able to use the dedicated line of credit to purchase Central Irrigation Supply professional products and services.
"Central Irrigation Supply has earned a reputation as a valued business that provides our contractors with timely product solutions that meet today's challenges and anticipate tomorrow's needs," says Bernardo Luciano, president of Central Irrigation Supply. "The Central Irrigation Supply credit card is yet another timely solution that will enable our contractors to conduct business with greater assurance and ease."
"First-of-its-kind" Flexibility for Contractors
In addition to establishing a private label credit card program, Central Irrigation Supply and CNH Capital have agreed to develop a program that allows Central Irrigation Supply's contractor-customers to offer flexible repayment terms to their own commercial and residential clientele: the CNH Capital Commercial Revolving Account for commercial customers, or the Freedom AccountSM for residential consumers.
In addition to establishing a private label credit card program, Central Irrigation Supply and CNH Capital have agreed to develop a program that allows Central Irrigation Supply's contractor-customers to offer flexible repayment terms to their own commercial and residential clientele: the CNH Capital Commercial Revolving Account for commercial customers, or the Freedom AccountSM for residential consumers.
"The customers of Central Irrigation Supply can now take advantage of a program that will help them close more sales," says Luciano. "The main advantage is they no longer need to carry any accounts receivables – now, they can get paid within two days of completing a job. This program is consistent with our overall approach to business: that is, working on behalf of our customers to help them grow."
CNH Capital National Sales Manager Tom Green characterized the offering as a "first-of-its-kind" for contractors. "Very few suppliers will consider the plight of their customers – the contractor who must collect for the products and services they sell to their clients," says Green. "But Bernardo Luciano and his people do care. That's why they have a program that will allow Central Irrigation Supply contractors to offer terms and promotional programs."
"These new financing programs from CNH Capital underscore Central Irrigation Supply's firm commitment to delivering solutions that will support the growth of their customers," says Don Pralle, senior director, CNH Capital Partner Programs. "And when our mutual customers win, everybody wins."
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About Central Irrigation Supply Co.
Central Irrigation Supply Co. provides irrigation contractors with all the necessary products and services for irrigation, including irrigation designs and drawings. The firm also supplies contractors with fountains, drainage materials, and landscape lighting. With 23 locations in New York, New Jersey, Connecticut, Rhode Island, Delaware, Pennsylvania, Ohio, Michigan, Minnesota, Georgia, Alabama and Washington, D.C., Central Irrigation Supply currently sells to approximately 3,000 landscape contractors, which in turn sell to commercial and residential end customers. More information about Central Irrigation Supply can be found at: http://www.centralirrigationsupply.com.
Central Irrigation Supply Co. provides irrigation contractors with all the necessary products and services for irrigation, including irrigation designs and drawings. The firm also supplies contractors with fountains, drainage materials, and landscape lighting. With 23 locations in New York, New Jersey, Connecticut, Rhode Island, Delaware, Pennsylvania, Ohio, Michigan, Minnesota, Georgia, Alabama and Washington, D.C., Central Irrigation Supply currently sells to approximately 3,000 landscape contractors, which in turn sell to commercial and residential end customers. More information about Central Irrigation Supply can be found at: http://www.centralirrigationsupply.com.
About CNH Capital
CNH Capital, the financial services business of CNH Global N.V. (NYSE: CNH), provides a comprehensive range of services, including wholesale and retail financing, leasing, insurance, asset management, and revolving lines of credit, for the global marketplace. Building on 50 years' experience in the equipment finance industry, CNH Capital services a portfolio of more than $15 billion, helping customers through various wholly owned subsidiaries and joint ventures throughout North America, Latin America, Europe and Australia. More information about CNH Capital can be found at: www.cnhcapital.com.
CNH Capital, the financial services business of CNH Global N.V. (NYSE: CNH), provides a comprehensive range of services, including wholesale and retail financing, leasing, insurance, asset management, and revolving lines of credit, for the global marketplace. Building on 50 years' experience in the equipment finance industry, CNH Capital services a portfolio of more than $15 billion, helping customers through various wholly owned subsidiaries and joint ventures throughout North America, Latin America, Europe and Australia. More information about CNH Capital can be found at: www.cnhcapital.com.