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GE Capital’s CDF Provides $53MM PO Funding to Logicalis US

July 28, 2015, 07:50 AM
Filed Under: Logistics

Commercial Distribution Finance (CDF), a division of GE Capital, announced it has provided international IT solutions and managed services provider Logicalis US with $53 million in short term accounts receivable (STAR) funding. Logicalis used the STAR facility to fund a purchase order for a major contract.

STAR is a purchase order funding solution that provides solution providers with additional credit capacity beyond traditional credit lines.

Headquartered in New York City, Logicalis is an international IT solutions and managed services provider with expertise in communications and collaboration, data center and cloud services, and managed services. Logicalis has been a CDF customer since 2012.

“There was great collaboration on arranging this funding,” said Todd Yaekle, VP, Finance, Logicalis US. “CDF’s understanding of our industry and business model makes it much easier for us to effectively support our customers.”

“We worked closely with Logicalis on this funding to ensure it would meet their goals and timeline,” said David Laurence, senior vice president of the technology group at CDF. “We are committed to helping our customers compete with a variety of financial solutions.”

Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products.

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