PRZOOM - /newswire/ -
Hoffman Estates, IL, United States, 2010/07/14 - GE Capital, Commercial Distribution Finance is providing a credit facility to Global Technology Resources, Inc. of Denver, an IT reseller to the commercial, federal, education and healthcare markets (NYSE: GE). NYSE: GE
GE Capital, Commercial Distribution Finance (CDF) announced today that it has established a $35 million credit facility for Global Technology Resources, Inc. (GTRI), a leading provider of a wide variety of technology solutions.
The credit facility will be used to procure inventory from distributors and manufacturers, such as Cisco Systems, Inc.; it will also be used for working capital needs. GTRI sells and installs IT systems and programs to customers in the commercial, federal, education and healthcare markets.
“GTRI’s success as an IT consultant requires the constant attention to details and to our working capital demands,” said Jeeva Ratnathicam, vice president of finance for Denver-based GTRI. “This new financing facility allows us to take advantage of manufacturers’ channel financing programs while providing us with capital necessary to continue our rapid growth.”
"CDF is pleased to provide smart working capital financing solutions that enable GTRI to expand its business,” said Tom Grathwohl, managing director of CDF’s Technology unit. “GTRI is able to leverage channel programs from companies such as Cisco that are made possible by CDF’s financing.”
About Global Technology Resources, Inc.
GTRI (GTRI.com) is a leading technology consulting provider based in Denver, focused on helping clients align IT investments with business strategy. The company’s end-to-end consulting solutions address business needs in LAN/WAN IT strategy, VOIP and unified communications, infrastructure, wireless, network convergence, systems management, business continuity, storage and backup, project management, staff augmentation and managed services. GTRI gives clients the necessary visibility and control to tackle their greatest technology challenges, leveraging professionalism and experience to deliver the best of next-generation networks.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance (gecdf.com) is a leading financing provider to manufacturers and their distributors. Programs include inventory financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).
GE (ge.com) is a diversified infrastructure, finance and media company that is taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide.
Ned Reynolds, GE Capital
P: 203-229-5717 / +1 203 837 0699 (mobile) - E: ned.reynolds[.]ge.com.