GE Annual Report 2000: Business Review: Commercial Finance




			Commercial Finance Web Site

Commercial Finance continues as one of GE's fastest-growing businesses with revenues accelerating 19% in 2000, capping a fourfold revenue increase over the last five years.

Formed in 1993, Commercial Finance provides customized financial solutions for mid-sized companies, primarily through senior debt, equity and factoring facilities. Today, 1,600 professionals serve over 5,000 companies on four continents through local, customer-focused transaction teams.

A major growth area is serving companies with revenues under $50 million. Three years ago we launched start-ups on both sides of the Atlantic using Six Sigma Quality tools and the Web to help deliver both lower cost and higher customer service solutions. The payoff in 2000 was a 75% jump in U.S. fundings and a 200% jump in the United Kingdom, with both groups racing up the leader tables in their respective areas.

The Internet is driving double-digit productivity gains and is making it faster and easier for customers to do business with us. One example is our Internet-based "My GE Deal" tool, which allows new borrowers to track their multi-step loan application process online, view the latest documents and provide real-time feedback about our performance.

We see significant opportunities ahead for our U.S. lending business to capitalize on gaps in market coverage created by the consolidating banking industry and the contracted high-yield debt market. We also expect to expand our successful participation in the restructuring of financial markets in Japan, Thailand, Korea, Mexico and elsewhere.

Under an exciting new program, "Access GE," we share proven GE management tools with our customers. Already, more than 1,000 customer managers are using these GE tools to solve their particular business challenges. This partnering initiative strengthens our customers' businesses and, consequently, our business relationships.

Our skilled and motivated employees run a diverse and increasingly global and digital business, striving to be the provider of choice for companies needing creative capital solutions.

www.gecommercialfinance.com