NewswireToday - /newswire/ -
Norwalk, CT, United States, 2013/09/30 - GE Capital, Corporate Finance announced it is administrative agent and sole lender on a $110 million asset-based credit facility for Arthur Schuman, Inc., a leading cheese manufacturer and distributor [NYSE: GE] - GELending.com / GECapital.com. NYSE: GE
The loan refinances existing debt and will be used to support growth. GE Capital also provides the company with equipment lease financing.
Established in 1946 and headquartered in Fairfield, NJ, Arthur Schuman is a leading importer, producer, processor and distributor of Italian-style hard cheese. With production facilities in Wisconsin, and distribution and processing facilities in Wisconsin, New Jersey, California and Illinois, the company processes more than 129 million pounds of cheese annually.
“GE worked diligently to structure a customized and competitive credit facility that meets the specific needs of our company,” said Larry Schaefer, chief financial officer of Arthur Schuman. “By understanding our business and objectives, they were able to provide us with increased liquidity and flexibility to support our growth.”
“We specialize in making significant financial commitments to food manufacturers and distributors,” said Bob McCarrick, chief commercial officer lending at GE Capital, Corporate Finance. “We aim to provide smart, flexible financing for mid-size companies to help them succeed.”
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. Funding may be provided through GE Capital, Corporate Finance’s affiliate, GE Capital Bank, member FDIC. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; 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.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. 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.
Jeff Wilson - GE Capital, Corporate Finance
P: +1 203 749 6340 - E: Jeffrey.Wilson[.]ge.com.