GE Commercial Distribution Finance (GECDF), the supplier finance unit of GE Capital, has agreed to expand the distribution finance facility of technology company ePlus from US$33m to US$50m.
The financing facility, originally entered in September 2000, includes a maximum receivable accounts facility sub-limit of up to US$15m, and is guaranteed up to US$10.5m by ePlus.
The revised facility will support the expected increase in ePlus' IT sourcing business resulting from its recent acquisition of Manchester Technologies' IT sales and services business in May. This facility is separate from the company's US$45m equipment finance facility.
“This increase in facility limits will enhance our ability to support our growing customer base,” said Steven Mencarini, CFO of ePlus.
Source: BCR
