NewswireToday - /newswire/ -
Hoffman Estates, IL, United States, 2011/05/02 - GE Capitalís Commercial Distribution Finance (CDF) business announced its completion of a $50 million credit facility for iGov.com, an information technology (IT) systems integrator for government customers (NYSE: GE). NYSE: GE
The facility will provide inventory floorplan, working capital and purchase order financing credit for existing and future federal government contracts.
"We have experienced strong growth in government business in recent years that has required the support of a lender who knows our industry and knows channel partners," said Steve Hamric, chief financial officer of iGov.com. "GE Capital is able to provide the credit availability we need to win and maintain large federal contract awards."
"GE Capital is pleased to work with iGov.com and their key vendors, including IBM, Panasonic, Dell and Synnex, to provide the credit capacity and purchase order financing for federal ordering demands," said Nik Scalise, vice president of government sales for CDFís technology finance unit.
iGov.com is an IT systems integrator specializing in delivering mission-centric IT solutions to its government customers. Based in McLean, VA, iGov deploys its people, expertise and processes to execute full lifecycle enterprise and tactical IT programs in the following areas: Systems engineering, deployable IT systems, communications and visualization.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30 billion in financing to 30,000 distributors and dealers 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 (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. Follow company news via Twitter (@GECapital).
GE (ge.com) is an advanced technology, services and finance company taking on the worldís 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.