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

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.

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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.

CDF provided more than $18 billion in financing to more than 1,300 IT channel partners globally in 2013. It has supported the IT industry for more than 30 years.

To read more about technology financing programs, click here http://www.gecdf.com/financing-solutions/technology-products.

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance provided $34 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2013. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. For more information, visit http://www.gecdf.com/ or follow company news via Twitter ( http://twitter.com/GEInventoryFin).

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter ( http://twitter.com/GECapital).

GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

Copyright Business Wire 2010

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