GE Capital Solutions, Franchise Finance Provides Funding for Harley-Davidson Acquisition

SCOTTSDALE, Ariz. & St. Augustine, Fla.--Clark Vitulli, founder and former CEO of America’s PowerSports, along with Allen Good, an associate of Vitulli’s from APS, has acquired a St. Augustine, Fla., Harley-Davidson dealership with a $3.4 million loan from GE Capital Solutions, Franchise Finance.

The loan, based on the projected value of the business, is going to be used to revamp the Harley-Davidson store and to modernize the showroom.

Vitulli, well-known throughout the industry, is using a natural extension of his experience to own the oldest Harley-Davidson dealership in America. In an effort to better serve the Harley-Davidson customer, Vitulli is offering more financing and adding new programs for sales, parts, service and motorclothes.

“This deal has been great for us. Harley-Davidson is an incredible franchise, and we now own a store in the greatest, 12-month riding area in the United States,” says Vitulli. “Working with GE Capital Solutions, Franchise Finance has been equally exciting. They are sharp, quick, and customer focused.”

The power sports industry is one the areas of expertise for GE Capital Solutions, Franchise Finance. The company has experience with both Vitulli and Harley-Davidson.

“Clark came to us because of his experience with us from America’s PowerSports,” says Cliff Kraushaar, vice president, GE Capital Solutions, Franchise Finance. “He is highly respected and we are excited to help him expand his business interests.”

GE Capital Solutions, Franchise Finance is a leading lender serving customers in the power sports, restaurant, hospitality, branded beverage, and automotive after-market industries. It provides financing to help franchisees and franchisors grow, compete, and prosper and offers access to capital with a diverse array of flexible financing options. The company finances real estate or equipment purchases, new construction or remodels, acquisitions, or refinancing.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $14 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).

GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.

GE is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.