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Consumers Now Have a One-Stop Shop for Home Improvement Materials,

Design Services, Installation and Financing

    ATLANTA, June 5 /PRNewswire/ -- The Home Depot(R) (NYSE:   HD), the world's
 largest home improvement retailer, launches today its Home Depot Home
 Improvement Loan Account, available in all U.S. stores by fall.  The program,
 the first of its kind in the retail industry, offers Home Depot customers a
 solution for their home improvement needs by providing materials, design
 services, installation and financing under one roof.
     "Home Depot is dedicated to providing innovative services and exceptional
 value to our customers," said Heather Wilson, Home Depot's credit marketing
 manager.  "The Home Improvement Loan Account program strengthens that
 commitment by making it convenient for customers to secure the financial
 resources necessary to make their home improvement dream a reality."
     Whether remodeling a kitchen or bath, or building an addition to a home,
 customers who are approved for a loan can begin shopping immediately.
 Customers complete a brief application and receive a decision within minutes.
 Home Depot sales associates will assist customers with all aspects of the
 simple process and offer expert advice on selecting materials to begin their
 home improvement project.
     "It was certainly convenient," said a Philadelphia customer who
 participated in a test of the Home Improvement Loan Account program.  "When we
 decided to build our new kitchen, we went to Home Depot and within minutes our
 loan was approved and we began shopping for materials the same day."
     Customers may charge purchases to their loan account in Home Depot stores
 for up to six months after the date of their first purchase.  This loan is
 only available for products and services at Home Depot stores.  Monthly
 statements will be mailed directly to participants and a 24-hour customer
 service department is available by phone.
     "Home Depot conducted extensive research and in-depth focus groups to help
 develop a competitive loan program that meets our customers' needs," said
 Wilson.  "As a result, we have designed an easy to apply loan program with
 quick approval times and competitive rates."
     The Home Improvement Loan Account program targets customers with large
 projects and frequent repeat purchases over a short period of time.  This
 program offers competitive fixed rates, credit lines between $3,000 and
 $30,000, repayment periods for up to 10 years, and no prepayment penalties.
 Customers may be pre-qualified without obligation to activate the loan
 account. Home Depot has partnered with GE Capital Financial Inc., a wholly
 owned subsidiary of GE Capital.
     The Home Depot Home Improvement Loan Account program is currently
 available in 65 stores in 13 states, including California, Delaware, Florida,
 Georgia, Illinois, Indiana, Kentucky, Massachusetts, New York, Pennsylvania,
 South Carolina, Texas and Utah.  The program will be available in all U.S.
 stores by fall.  For more information about the program, please visit Home
 Depot's web site at www.homedepot.com or call (888) 812-7454.
     Founded in 1978, Atlanta-based Home Depot currently operates 980 stores in
 North and South America.  The company was named in the Top 10 Most Admired
 Companies in America by Fortune magazine, which has also ranked it as
 America's Most Admired Specialty Retailer for seven consecutive years.  Its
 stock is traded on the New York Stock Exchange and is included in the Dow
 Jones Industrial Average and the Standard & Poor's 500 Index.
 
 

SOURCE  Home Depot

RELATED LINKS
http://www.homedepot.com