IRVING, Texas, Jan 23, 2012 (BUSINESS WIRE)
—In advance of a busy trade show season, GE Capital, Dealer Finance announced that it is doubling its sales force to support growing retail and wholesale demand for construction equipment financing.GE Capital's lending to the construction industry grew 36% in 2011 and the outlook for 2012 activity is strong, necessitating additional staff. "The new hires will be spread across 10 regions in the U.S. to provide one-on-one assistance to our wholesale and retail customers when necessary," said Kristi Webb, commercial leader of GE Capital, Dealer Finance. "This enhanced coverage ensures that we're ready to assist dealers with financing options ranging from straightforward same-day funding to complex structuring."
This year is expected to bring modest growth and better overall conditions in the construction end markets. "The non-residential building sector will benefit from gradually improving general economic conditions, corporate profits and employment numbers," said Serena Tse, senior vice president and construction industry research manager at GE Capital. "At the same time, the public sector is facing a difficult budget environment and the lack of a long-term transportation bill, while the residential sector will continue to be adversely affected by excess inventories."
About GE Capital, Dealer Finance
Through its Equipment Finance business, GE Capital provides commercial leases and loans, typically ranging from $5,000 to $25 million, to small and mid-sized manufacturers, dealers and end-business users to help drive cost efficiencies and top-line growth. Customizable financing solutions range from IT to construction, office imaging and medical equipment, and telecom, transportation, healthcare and more. GE Capital offers consumers and businesses around the globe an array of financial products and services.
SOURCE: GE
