Gulf Oil L.P. is now providing financing options to its distributor and dealer network through a new partnership with Patriot Capital Corp., which is the nation’s leader in equipment finance for the retail petroleum industry. The new relationship enables Gulf to provide flexible financing options to distributors and dealers interested in obtaining new equipment.
With new tax benefits announced in the new Federal Stimulus Package that allow equipment buyers to take significant deductions on 2009 purchases, Gulf sees great opportunities to help its network remain efficient and decrease operating costs.
“Our distributors and dealers continue to navigate a challenging financial environment, and they require flexible financing programs so they can operate efficiently and maximize every dollar,” said Gulf Oil President and Chief Operating Officer Ron Sabia.
Finance programs for new equipment purchases will also allow Gulf distributors and dealers to comply with point-of-sale (POS) and payment card industry (PCI) data requirements. Such a program will also ensure that they have cutting-edge equipment to help increase sales and promote the Gulf image, and have access to capital to expand their business through additional profit centers, such as franchise-food and car washes.
“We anticipate our access to capital, competitive pricing, flexible structures, and outstanding customer service will help Gulf in its commitment to continuously find new and better ways to serve its network,” said Chris Santy, Managing Director of Patriot Capital Corporation.
Gulf Oil Limited Partnership, based in Framingham, Massachusetts, is one of the Northeast’s largest wholesalers of refined petroleum products. Gulf Oil distributes motor fuels through a network of more than 2,400 Gulf-branded gasoline retail centers, 12 proprietary oil terminals, and a network of more than 50 other supply terminals.