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.
Based in Valencia, CA, Nexus provides solutions in five practice areas: Collaboration, data center, borderless networks, business video, and managed services. Nexus (nexusis.com) partners with industry leaders including Cisco Systems, Inc., EMC Corp., Microsoft Corp., NEC Corp. and VMware, Inc.
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 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 gecapital.com or follow company news via Twitter (@GECapital).
GE (ge.com) 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.
Mark Chesney - GE Capital, Commercial Distribution Finance
P: +1 847 747 6518 / M: +1 847 544 9362 / E: Mark.Chesney1[.]ge.com.