GE Capital Expands Construction Finance Business

Doubles sales force, reflecting better conditions in construction industry

World of Concrete 2012

IRVING, Texas--()--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.”

More information is available in a special update to GE Capital’s Construction Industry Research Monitor, available here: gelending.com/IndustryResearchMonitors/Construction_Update_1-12_.pdf.

To sign up for future issues of the Construction Industry Research Monitor, please click here: americas.gecapital.com/insights-ideas/industry-research-monitor.

At World of Concrete taking place this week in Las Vegas, GE Capital is the Gold Sponsor of the mobile application that gives attendees and exhibitors real-time information including alerts, an interactive floor plan, and Twitter and Facebook integration. Attendees who download the app also gain access to GE Capital’s “Top 10 Tips for Smart Borrowers,” that suggests methods companies can use to increase the likelihood of success when seeking financing.

About GE Capital, Dealer Finance

GE Capital is America’s largest equipment leasing company. 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. For more information on dealer offerings from GE, visit dealerfinance.com.

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@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 ge.com.

Contacts

GE Capital, Americas
Lisa Tibbitts, 203-956-4582
Lisa.Tibbitts@GE.com

Release Summary

GE Capital is doubling its sales force to support growing demand for construction equipment financing. This year may bring modest growth and better overall conditions in construction.

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Contacts

GE Capital, Americas
Lisa Tibbitts, 203-956-4582
Lisa.Tibbitts@GE.com