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CSHPI And Furniture First To Provide Extended Terms To Dealers

Chicago, USA: Capital Solutions for the Home Product Industry (CSHPI) announced it has entered into an agreement with the Furniture First Buying Group. The new relationship will enable Furniture First’s network of independent furniture retailers to take advantage of extended term programs, help manage inventory, extend cash flow, and grow revenues.

Furniture First is a purchasing cooperative representing over 200 independent furniture retailers with USD1.7 billion in sales. Some of the services provided by the buying group include access to rebates, discounts, exclusive private labels, merchandising and consumer financing. This will be CSHPI’s first relationship with a buying group dedicated to the furniture industry.

“Relationships are critical to the industry and to the success of dealers,” said Steve Kloss, C.E.O. and founding member of Furniture First. “Working with CSHPI allows us to enhance the offerings provided to our members by ensuring they have access to the right capital and financing solutions.”

“The furniture industry is a highly competitive market, and having the right lender can provide valuable benefits,” said Judith Toland, President of CSHPI. “We look forward to leveraging our deep domain expertise and innovative financing solutions to help Furniture First dealers grow their businesses.”

Furniture First is a national “Home Furnishings and Mattress” only buying group serving the full line independent retailer, representing USD1.7 billion in retail sales. Furniture First occupies showrooms at both the High Point and Las Vegas Markets where they display products from several of the group’s approved vendors. This includes the group’s high-margin private label mattress line, Mattress 1st.

Capital Solutions for the Home Product Industry (CSHPI) provides specialized financing and servicing programs that facilitate the manufacturing, distribution and sale of products for industries such as electronics, appliances and home furnishings. Its programs include inventory and accounts receivable financing, private label financing, collateral management, e-commerce services and related financial products. In the appliance, electronics and home furnishing industries, CSHPI services more than 300 manufacturers and distributors and more than 4,500 dealers, including independent dealers and those associated with buying groups.