BlueTarp Financial Brings Credit Services to Northern Tool + Equipment®

Charlotte, N.C. and Portland, Maine -- 07/23/12
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Financial provider announces new partnership, provides commercial credit to contractors

BlueTarp Financial, a full-service provider of commercial credit to the building supply industry, today announced it has entered into a new partnership with Northern Tool + Equipment Co., a leading supplier of high quality tools and industrial equipment. In the agreement, Charlotte, N.C.-based BlueTarp was selected to develop and implement a customized line of credit for Northern Tool and its extended contractor network. The program operates under the private label NT Net 30.

Effective July 11, 2012, 40,000 of Northern Tool's contractors were converted to the NT Net 30 credit program. Benefits of the customized program for Northern Tool include guaranteed cash flow, risk reduction of contractor payments and back-office support that will free up staff to focus on delivering better service to contractors. The credit line will streamline transactions and improve contractor-store relationships for the Burnsville, Minn.-based supplier.

“Our goal is to create credit programs that support the unique needs of our retail partners,” said Scott Simpson, CEO, BlueTarp Financial. “Northern Tool serves a wide network of businesses, professionals and individual consumers. We are thrilled to collaborate with them to build and manage strong, dependable financial credit solutions.”

“At Northern Tool, we wanted one integrated system that would allow us to process transactions and applications, while allowing us to exact payment terms down to the store- and individual-transaction level,” said Rick Thonet, Director of Credit Marketing, Northern Tool + Equipment. “BlueTarp's NT Net 30 program is customized to meet those needs, while allowing us to serve contractors faster and with less hassle than ever before. We're very pleased to have BlueTarp as our credit provider and are excited to bring the program to our stores nationwide.”

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