GE Money, Mohawk Extend Consumer Finance Program

Flooring Leader Drives Retail Growth Through Financing

GE Money's Sales Finance unit and Mohawk Industries, one of the nation's leading flooring and carpet manufacturers, have announced the signing of a new multi-year agreement to extend the Mohawk Consumer Finance Program for flooring retailers across the country.

The program was introduced in 1995 and is available through more than 4,000 flooring retailers nationwide today.

"The Mohawk Consumer Finance Program is an integral part of our strategy to drive profitable growth for our retailers," said Mike Zoellner, vice president of marketing services for Mohawk. "Our most successful dealers use it because it's attractive to consumers who need increased buying power as well as 'money managers' who understand the value of leveraging the bank's cash. GE really makes it simple for Mohawk dealers to provide financing solutions for every type of consumer."

GE Money supports the Mohawk Consumer Finance Program with free point-of-purchase materials and customized dealer and customer service. There is no set-up fee, and GE's transaction fees are typically lower than traditional bankcards. The program enables all Mohawk retailers, including Mohawk Floorscapes, Mohawk ColorCenter and Mohawk Floorz dealers, to offer flexible financing promotions and fast credit decisions to consumers wishing to purchase flooring products for the home. GE Money handles all financing transactions with no liability to Mohawk for credit losses.

Estimated at more than $31 billion in 2006, the residential market is the leading end-use sector with nearly 75 percent of total U.S. domestic sales in the flooring industry.

"Mohawk is a highly respected and recognizable consumer brand and we're honored that they've chosen to renew their financing program with us," said Greg Pittman, vice president and flooring industry leader for GE Money - Sales Finance. "Mohawk is setting a strong pace for the industry with revolutionary products, and we look forward to supporting their flooring retailers with innovative financing solutions for many more years" - General Elecric.