NewswireToday - /newswire/ -
Hoffman Estates, IL, United States, 2012/03/14 - GE Capital’s Commercial Distribution Finance (CDF) business announced that it will provide $40 million in inventory financing and working capital to Redapt, Inc. (NYSE: GE) - Redapt.com. NYSE: GE
GE Capital’s Commercial Distribution Finance (CDF) business today announced that it will provide $40 million in inventory financing and working capital to Redapt, Inc., a data center infrastructure solutions provider and hardware reseller based in Redmond, WA.
This new program allows Redapt to acquire capital to meet the needs of its growing business. Redapt is a value-added reseller that delivers data center solutions ranging from private and hybrid cloud infrastructure to turn-key rack integration to basic product fulfillment. Inventory financing is an important element of a successful value-added reseller (VAR) business model. CDF has been supporting the IT industry for more than 30 years.
"GE Capital was able to provide credit capacity and structure while allowing us to maintain our current bank relationships," said Rick Cantu, CEO, president and co-founder of Redapt. "We now have the ability to execute our continued growth with the strength and backing of a strong finance company."
"GE Capital is pleased to work with Redapt and its vendors, such as Dell, to provide the working capital financing necessary to meet the needs of its customers," said David Laurence, vice president and sales director of CDF’s technology finance unit.
About Redapt, Inc.
Redapt, Inc. (redapt.com), a minority-owned company established in 1996, delivers data center IT solutions that fit the business needs of each customer. Redapt was awarded Dell’s Partner of the Year acknowledgement in 2010 and 2011, and was recognized as one of "Washington’s 100 Fasting- Growing Private Companies" by Puget Sound Business Journal. For more information on Redapt, Inc., visit the website or call 425-882-0400.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America in 2011. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. 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) 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. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website.
Lisa Tibbitts, GE Capital, Americas
+1 203-956-4582 / 203-803-6142 (mobile) - E: lisa.tibbitts[.]ge.com.