CHERRY HILL, N.J. — Deutsche Financial Services, a division of Deutsche Bank, is re-entering the inventory financing business for electronics/appliance retailers with a new lineup of services and a decentralized office organization.
As of May 1 Deutsche Financial Services decentralized operations for the electronics/appliance industry so it “could be closer to the marketplace,” according to Ed Buckle, regional manager/sales division. The company’s electronics/appliance business is now split into three separate regions: east, with an office in Atlanta; central, with an office in Chicago; and west, based in Anaheim, Calif. Buckle will be moving to the Atlanta office during July.
“We provide a straight floor plan for retailers with scheduled payments based on actual turns of merchandise,” Buckle said. Through the Internet, customers can check their account, make payments, handle inventory control and track manufacturers’ orders, among several innovations.
The company was actively involved in the electronics/appliance market until the price competition between Whirlpool Finance and Transamerica, which eventually bought the former, pushed Deutsche to take a step back, he said. “At that time we kept our large consumer electronics retailers and manufacturers, but didn’t actively go after new business.”
For more information on Deutsche Financial Services, check its website at www.dfsc.com.