CDF increases its floor plan financing and working capital credit facilities for technology solutions provider Nexus IS
Hoffman Estates, IL, Feb. 18, 2011 ― GE Capital's Commercial Distribution Finance (CDF) business today announced an increase to $80 million in the floor plan financing and working capital credit facilities for technology solutions provider Nexus IS.
"GE Capital is pleased to be able to increase our financing for Nexus from $2 million in 2004 to the current level as they continue to grow their business," said Tom Grathwohl, managing director of CDF's technology finance unit. "We continue to collaborate with key vendors, such as Cisco, to provide flexible financing solutions to leading IT channel providers to support their inventory and working capital growth requirements."
"Our growth would not have been possible without our close relationship with GE Capital. This expanded credit facility will provide us with the financial capacity to continue our extraordinary growth trajectory," said Deron Pearson, Nexus' CEO and president.
About Nexus
Based in Valencia, CA, Nexus provides solutions in five practice areas: Collaboration, data center, borderless networks, business video, and managed services. Nexus partners with industry leaders including Cisco Systems, Inc., EMC Corp., Microsoft Corp., NEC Corp. and VMware, Inc. For additional information, please visit www.nexusis.com.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance lent more than $30 billion to 30,000 manufacturers and their distributors across the Americas in 2010. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit www.americas.gecapital.com or follow company news via Twitter (@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 (@GECapital).
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Ned Reynolds
GE Capital
[email protected]
+1 203 2295717
+1 203 8370699
Mark Chesney
GE Capital Commercial Distribution Finance
[email protected]
1-847-747-6518
1-847-544-9362