Press release from Business Wire
GE Capital Launches New Credit Facility for ASI System Integration, Inc.
<p> $40 million of inventory working capital will fuel growth </p>
Wednesday, March 13, 2013
GE Capital Launches New Credit Facility for ASI System Integration, Inc.08:00 EDT Wednesday, March 13, 2013 CHICAGO (Business Wire) -- GE Capital's Commercial Distribution Finance (CDF) business announced today that it has established a $40 million inventory and working capital financing credit facility for ASI System Integration, Inc. (ASI), a technology consulting service based in New York, N.Y. that works with corporate, public sector and reseller clients. Providing an alternative to standard open account terms, which typically require payment in full within 30 days, inventory and working capital financing programs allow companies in the information technology (IT) channel to address the cash conversion cycle from inventory procurement and service billing to accounts receivable collection. “We chose to work with GE Capital because of its global reach, broad capabilities and excellent reputation in the market,” said Sonny Chabra, ASI's chairman and CEO. “This financing provides us with the credit and flexibility necessary to continue to follow our growth strategy.” “We are pleased that ASI chose GE Capital to provide working capital financing to grow its business,” said Mike Marcolina, managing director at CDF. “The opportunity to help fast-moving American businesses like ASI reinforces our commitment to the channel community.” CDF has supported the IT industry for more than 30 years. It is the financing provider to more than 250 vendors and 1,400 resellers. It provided $12 billion in channel financing last year. About ASI System Integration, Inc. ASI provides a range of IT solutions for all industries, including consulting, systems design, integration, lifecycle sourcing, asset disposition and IT workforce staffing. Computer Reseller News recently named ASI to its 19th annual Solution Provider 500 list (formerly the VAR500), which ranks the highest producing integrators and solution provider organizations in the IT channel. For more information, please visit www.asisystem.com. About GE Capital, Commercial Distribution Finance GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 40,000 manufacturers, dealers and distributors across North America in 2012. 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 http://www.gecdf.com/ or follow company news via Twitter (https://twitter.com/GEInventoryFin). GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital). GE (NYSE: GE) 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 at www.ge.com. GE Capital, AmericasLisa Tibbitts, firstname.lastname@example.org