HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)--Feb. 13, 2006--Commercial Distribution Finance (CDF), a unit of GE Commercial Finance, recently established a $25 million credit facility for Nexus IS, Inc. (Nexus Integration Services), a leading provider of Voice Over Internet Protocol (VoIP) infrastructure solutions. The working capital facility provides an innovative credit structure, developed specifically for VoIP value-added resellers (VARs).
"Our two-year credit relationship with GE has allowed us to capitalize on substantial market opportunities, having just achieved 75% revenue growth in 2005," said Jon Jensen, CEO of Nexus IS. "This expanded facility continues to provide us with both the inventory flooring and working capital requirements necessary to continue our rapid growth, while specifically customized to meet the unique and changing requirements of our business."
CDF provides financial solutions that include accounts receivable working capital loans, purchase order financing, inventory financing and other programs for various industries, including technology and telecommunications.
"CDF is pleased to provide working capital financing solutions that enable Nexus to expand its business," said Tom Grathwohl, managing director of CDF's Technology unit. "Nexus also effectively leverages Cisco's channel support programs that are available through CDF. These programs enable Nexus to invest in the advanced technology products and services that are required to complete the complex solutions that Nexus delivers to their customers, and we are pleased to work with them in this process."
About Nexus IS
Nexus IS, Inc., headquartered in Valencia, CA, is a leading national full-service provider of converged communications solutions. As a Cisco Gold Certified Partner, Nexus IS also holds specialization certifications in IP Communications, Wireless, and VPN/Security; and is an Advanced Technology Partner for IPCC Enterprise contact center and MeetingPlace collaboration technologies. Strategically partnered with technology industry leaders Cisco Systems, NEC Unified Communications and Microsoft, Nexus IS offers an extensive list of integrated Voice, Video, Data and Convergence solutions throughout the United States. For more information, visit the Nexus IS website at http://www.nexusis.com.
About Commercial Distribution Finance
Commercial Distribution Finance is a leading provider of specialized financing products and services for various industries, including technology, marine, motor sports, agriculture, lawn & garden, RV, manufactured housing, electronics & appliances and industrial products. Offerings include inventory financing, accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. CDF has operations worldwide. Additional information about CDF can be found online at www.gecdf.com.
About GE Commercial Finance
With approximately $230 billion in assets and an expertise in the mid-market segment, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. A wholly owned subsidiary of the General Electric Company, GE Commercial Finance is headquartered in Stamford, Connecticut, USA.
GE (NYSE:GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
Commercial Distribution Finance
Stan Lata, 847-747-7548
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340