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GE Capital Accelerates Working Capital Financing For Small To Mid-Sized IT Solution Providers

Stocks in this article: GE

GE Capital, Commercial Distribution Finance (CDF) is expanding the pool of working capital financing available to small and middle market information technology (IT) solution providers. With secured lending from a reliable liquidity source, entrepreneurs may be more prepared to bid on large projects, even if they expect extended cash collection periods from their customers.

To listen to an audiocast about this topic, produced in cooperation with The Channel Company, publisher of CRN, click here http://event.on24.com/r.htm?e=782971&s=1&k=76D0DAE59DC3D95375CB1A97143D53B1&partnerref=CLNT1.

CDF’s working capital solutions program provides qualified borrowers with financing that can be used to meet immediate payment obligations while potentially offering benefits such as streamlined credit approvals, simplified documentation requirements and expanded borrowing capacity. Solution providers may purchase products directly from a pool of more than 100 technology vendors that have financing arrangements with CDF or distributors whose products may also be financed by CDF.

“Solution providers can use assets such as accounts receivable as collateral to meet their short-term cash needs,” said Mike Marcolina, managing director of CDF’s financing programs for technology, electronics and appliances businesses. “The best time for a business to set up a working capital line of credit is before it’s needed. Waiting until there’s a cash crunch could mean that financing options are limited.”

Borrowers may be eligible for a revolving line of credit with advance rates of up to 100%. They may also qualify for extended and, in some cases, interest-free financing that is subsidized by the technology vendors.

Solution providers that use working capital solutions may be able to reduce bank borrowing costs. Moreover, they may benefit from a more efficient billing and collections process. Combined with GE Capital’s dedicated channel expertise and 24/7 online account management system, the working capital solutions program can help small and mid-sized companies succeed in today’s low-growth economic environment.

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