GE Capital will participate in the U.S. Import-Export Bank’s Supply-Chain Finance Guarantee Program, which provides competitively priced working capital financing to suppliers of U.S. exporters, particularly small and medium-sized enterprises.
GE Capital joins Citibank and JP Morgan in participating in the bank’s program. Ex-Im Bank developed the program in response to capital needs of small businesses and to help ensure that President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014 is met.
“We have extensive experience in financing the supply chain,” said Dan Henson, president and chief executive officer of GE Capital Americas, in a statement. “We look forward to bringing our expertise to this program and to help support expansion in the manufacturing base and growth in the economy.”
The program supports GE Capital’s purchases of accounts receivable owned by small and medium-sized U.S. suppliers that are U.S. exporters. It also helps qualified suppliers obtain access to capital more quickly and improves their ability to fulfill new orders.
GE Capital joins supply chain finance program
