JACKSONVILLE, Fla.--(BUSINESS WIRE)--Aug. 11, 2003--To meet the rapidly changing financing needs of businesses in North America, General Electric announced today the launch of GE Business Credit Services.
The new organization, formerly GE Distribution Finance, will continue its role as a leading provider of inventory finance, but has expanded its business structure to include commercial sales finance. Services encompass open account trade receivable management, business revolving charge programs, and receivables purchasing.
Our range of services has become far broader than simply distribution finance, and our new name will more accurately reflect the full range of financial solutions we provide customers, said Chris Little, vice president and general manager of GE Business Credit Services. We manage all aspects of commercial open account trade credit functions for our clients, and do more than just take out cost.
Our programs are structured such that all invoice, billing and customer service communication is completed in our client's name.
GE Business Credit Services truly operates as an extension of our client's business, helping them increase commercial sales through credit marketing, build customer loyalty, enhance brand value, reduce back office expenses, enhance cash flow and improve credit servicing processes. In addition, Little said the group has launched its new Web site at www.gebusinesscreditservices.com.
GE Business Credit Services provides financing services to companies in industries such as consumer electronics, office products, foodservice, wholesale distribution, building materials and many others.
GE Business Credit Services is a powerful and innovative partner for all types of companies, said Mark W. Begor, president and chief executive officer for GE Consumer Finance-Americas. They have a unmatched focus in commercial financing, tremendous technological resources and vast practical experience in receivables financing and process management to drive client operating efficiencies and growth.
GE Business Credit Services, based in Jacksonville, Fla., is a unit of GE Consumer Finance, a business of General Electric Company. With $95 billion in assets, GE Consumer Finance is a leading provider of credit services to consumers, retailers and auto dealers in 37 countries around the world.
GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance.
More information can be found online at www.geconsumerfinance.com.
GE (NYSE: GE) is a diversified services, technology and manufacturing company with operations worldwide.
More information about GE can be found online at www.ge.com.
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