ENP Newswire - 14 July 2014
Release date- 11072014 - GE Capital today announced it is providing MerchSource LLC with a $130 million senior credit facility providing working capital for the company's operations in the U.S. and Hong Kong.
MerchSource, headquartered in Irvine, CA, ideates, designs, develops and distributes a variety of consumer products in categories including electronics, toys, home decor, household accessories and pet supplies. Their products are sold in some of the nation's largest retailers including Bed Bath & Beyond, CVS, Kohl's, Macy's, Target, Walgreens and Wal-Mart.
'GE Capital's global capabilities and their ability to provide a flexible working capital solution across two countries helps us keep pace during our peak selling seasons,' said Johann Clapp, co-founder of MerchSource. 'We have built a strong working relationship with GE Capital over the last several years and value their team's dedication to our success.'
'We combined our capabilities in the U.S. and Hong Kong to create a global financing program that meets MerchSource's needs as they continue to grow the company,' said Bob McCarrick, chief commercial officer-lending at GE Capital, Corporate Finance. 'We specialize in finding innovative financial solutions for mid-size customers.'
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses expanding in North America, Asia and Europe. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE's best practices to help build their business. Visit geccf.com/newsroom or follow @GELendLease on Twitter.
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 (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com.
Notes to Editors
Name Tara Lambropoulos
Job Title Division GE Capital, Americas
Phone 312 441 7854
Fax Mobile 312 802 9712