IRVING, TX, JUNE 19, 2014 --- GE Capital's Equipment Finance business announced today that it has launched a financing program for commercial and municipal customers of Generac Power Systems, Inc. [NYSE: GNRC]. Based in Waukesha, WI, Generac supplies standby power systems for residential, commercial and industrial customers.
Under this program, GE Capital provides loan and lease financing options for customers who purchase commercial and industrial generators. The financing is available for purchases made through distributors as well as Generac's authorized dealers.
"It's important for everyone to be prepared for power outages," said Kyle Raabe, vice president of industrial sales distribution at Generac. "We've built a relationship with GE Capital so that businesses and operators of critical infrastructure can more easily acquire standby power systems to protect themselves, their customers and their residents from severe weather."
GE Capital Equipment Finance is a long-time provider of financing for equipment manufacturers and their commercial customers. Leasing rather than purchasing equipment typically allows businesses to keep working capital on hand while obtaining equipment at a lower price point. To learn more about the benefits of leasing, click here.
"Financing can provide end-users with better cash management and greater financial flexibility over time," said Jim Kelly, managing director of GE Capital, Equipment Finance's Business Development team. "At the same time, arranging for commercial financing is one way that manufacturers can support their customers and drive product sales."
GE Capital's Commercial Distribution Finance business already provides inventory financing, also called floorplan financing, to authorized Generac dealers.
Since 1959, Generac has been a leading designer and manufacturer of a wide range of generators, transfer switches and engine-powered products serving residential, light commercial, industrial and construction markets. For commercial and industrial applications, the company offers diesel- and gaseous-fueled generator systems up to 2.0 MW with single gensets, and up to 100 MW with paralleled systems. These include Generac's Bi-Fuel™ system, the Gemini® Twin Pack system and Generac's Mobile Power for mobile backup power. All are available through a broad network of industrial distributors and dealers. For more information on Generac and its commercial and industrial product line, please visit www.generac.com/for-business. Follow Generac on Twitter. Become a fan on Facebook.
About GE Capital, Equipment Finance
With more than $36 billion in lease and loan transactions since 2007, GE Capital's Equipment Finance business manages over 40 manufacturer financing programs that span 10+ industries, including transportation, construction, information technology, office imaging, golf and turf, healthcare and manufacturing. It maintains relationships with approximately 200,000 business customers through its network of dealers and distributors, and evaluates more than 1,000 financing applications daily.
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