The Central Network Retail Group (CNRG), operators of 43 home centers, lumberyards and hardware stores, signed a deal with BlueTarp Financial, a provider of in-house trade credit programs for the building supply industry.
Under the deal, Protland, Maine-based BlueTarp will manage all aspects of the CNRG credit program — credit extension, customer service, billing and collections.
According to BlueTarp, the service provides each CNRG location improved cash flow, protection from credit risk, and an enhanced credit program experience for their contractors.
CNRG, headquartered in Memphis, operates 43 lumberyards, hardware stores, and home centers throughout the southeast under brands like Morrison Terrebonne Lumber Center (Louisiana), Habersham Hardware (Georgia), Elliott’s Hardware (Texas) and Town & Country Hardware (North Carolina).
The origin of the relationship began with Alabama’s NFL Building Supply, where BlueTarp managed NFL’s credit program since 2008. CNRG acquired NFL in 2011.
“Our growth plans are aggressive and we believe that BlueTarp can keep pace and help us realize this future growth,” said Boyden Moore, president of CNRG.
The announcement of the partnership with CNRG comes on the heels of BlueTarp’s $15 million equity increase to support their own rapid growth rate. “BlueTarp is proud to add CNRG to our growing network of dealers,” said Scott Simpson, BlueTarp’s CEO. “Boyden is an innovative retail leader thinking ahead of the curve on how our industry is evolving.