NHFA, BrandSource Partner on Financing

September 12, 2012  by in UnCategorized   

By Home Furnishings Business in Business Strategy on September 13, 2012

The National Home Furnishings Assocation and BrandSource have formed an alliance under which BrandSource will provide NHFA members and its affiliates with inventory financing services.

The financing service will come through BrandSource Financial, the wholly owned wholesale finance company.

BrandSource Financial will provide central billing services for retailers purchasing products from a list of approved home furnishing manufacturers. Under the program, manufacturers will be guaranteed payment in a designated timeframe with extended repayment terms or "early-pay" discount options offered to NHFA members. 

 "This is a terrific opportunity for all NHFA members and affiliates, and it's mutually beneficial to both vendors and retailers," said Steve DeHaan, executive vice president, NHFA. "Even though we're in the early stages of implementation, feedback from the retail community has been overwhelmingly positive." 

 NHFA affiliates, which include the Western Home Furnishings Association, Southeastern Home Furnishings Association, and Southern Home Furnishings Association, will also be able to take advantage of the programs that BrandSource Financial has to offer.

 "We're very pleased to offer BrandSource Financial to NHFA members and provide them with highly competitive inventory financing services," said Bob Lawrence, CEO of BrandSource. "This is a phenomenal opportunity and we encourage NHFA members and their affiliates to take full advantage of what BrandSource Financial has to offer."