Retail Observer

R ETAI LOBSE RVE R.COM MAY 2016 54 CAPITOL SALES COMPANY LAUNCHES AN EXTENDED TERM INVENTORY FINANCING PROGRAM THROUGH NORTHPOINT COMMERCIAL FINANCE Northpoint Commercial Finance (Northpoint), a diversified inventory finance company, has launched an extended term floorplan finance program for Capitol dealers who are members of Nationwide Marketing Group. Nationwide Marketing Group, North America's largest buying and marketing organization, added Northpoint as an endorsed lender for their network of over 3,500 members. Dealers are able to take advantage of extended term programs, better manage inventory, extend cash flow and grow revenue through Northpoint's flexible financing solutions. Capitol is among the first of the new Northpoint vendor relationships resulting from Nationwide's endorsement. Capitol is a leading distribution source for residential systems contractors, retailers, PRO AV contractors and premium incentive resellers. They offer high-quality products, competitive prices and expert technical help. Under the new agreement, Northpoint will offer Capitol dealers members-only extended terms on flexible inventory lending and floorplan financing solutions to help dealers thrive. "Northpoint's extended terms financing options make perfect sense for Capitol's customers," said Curt Hayes, president & CFO of Capitol. "It will enable dealers to purchase more of our products without tying up their cash in inventory, while supporting our working capital, liquidity and balance sheet strength." Northpoint's senior leaders offer a world-class management team with more than two decades of experience in the industry. As a non- regulated lender, Northpoint offers flexible programs not found in today's highly regulated banking environment, and can offer a nimbler response. In addition, every Northpoint client, regardless of size, is assigned their own dedicated account representative to serve as an ongoing financing strategist. "Capitol dealers will benefit not only from the extended terms, but from a faster turnaround and our responsive, high-touch service," said John Durnien, SVP at Northpoint. "And while we'll be offering preferred terms to Capitol dealers who are Nationwide members, we will offer financing options to all Capitol dealers." "We are always looking for new and creative inventory financing solutions for our membership," said Frank Sandtner, EVP of Nationwide. 'We invite our retailers to check out Northpoint at PrimeTime! to better understand the flexible programs Northpoint has to offer." NATIONWIDE EAST EXPECTING GROWTH TO 1000 MEMBERS While Nationwide East experienced another year of tremendous growth in 2015, the group is expecting to exceed a thousand member retailers in 2016. The group's focus in 2016 is continued engagement on the MemberNet platform, the group's website, member services and advertising tools that keep the independent retailer competitive. With ten Territory Managers in the areas where these retailers reside, the Nationwide East members can expect to see them in their stores frequently, with customized programs designed to grow their businesses. Nationwide East has had a fast start in 2016, hosting a Territory Manager Planning Meeting in Florida. The training was focused on the exclusive financing, promotional and product programs that give Nationwide East members a clear advantage in their marketplace. The managers share their expertise and knowledge of these initiatives with members through frequent phone calls and store visits, which is crucial to building relationships and trust. The Territory Managers become familiar with their members on a personal level, helping to cement the 'large group with a small family feel' that has become a core value of Nationwide East. To further help its members, NW East has established a group communication system that encourages members to reach out to one another for hard to find models, parts or locate new products. This has become an invaluable service that helps strengthen the reason they belong to a group of like- minded independent retailers. Dean Hanby, vice president of Nationwide East says, "We spent four days in sessions educating the Territory Managers on our finance, furniture, appliance and CE advantages. It's vital that we have the knowledge to explain every program and resource to our members and help them run their business at a profit. 'We've Got Your Back' is more than our slogan, it is the fundamental way Nationwide East does business, we believe it." "The continued growth of Nationwide East and our regional divisions is due to their teams taking the time to educate the territory managers and ensure the services we offer to our retailers is understood and adopted by all members," said Dave Bilas, CEO of Nationwide Marketing Group. "The fact that Nationwide East will grow to 1000 members this year is truly worth celebrating." B U Y I N G G R O U P N E W S RO

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