GE is allegedly set to trim its consumer
finance offerings, according to a Reuters report, and will
stop offering loans for the purchase of consumer boats and
motorhomes. GE Money told boat and recreational-vehicle dealers
that it will cease taking applications by July this year and will
no longer offer new loans from August 1.
GE Money expects to lay off less than 100 employees in the US as a
result, the report said.
However, the company will continue to provide consumer loans for
some boat engines and related products, and some commercial credit
to the boat industry. It will continue to service its $3.6bn loan
portfolio.
finance offerings, according to a Reuters report, and will
stop offering loans for the purchase of consumer boats and
motorhomes. GE Money told boat and recreational-vehicle dealers
that it will cease taking applications by July this year and will
no longer offer new loans from August 1.
GE Money expects to lay off less than 100 employees in the US as a
result, the report said.
However, the company will continue to provide consumer loans for
some boat engines and related products, and some commercial credit
to the boat industry. It will continue to service its $3.6bn loan
portfolio.
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