ePlus Upsizes Credit Facility with GE Capital
ePlus announced its subsidiary, ePlus Technology, amended its credit facility with GE Capital Commercial Distribution Finance (GECDF), which was originally entered into on July 23, 2012.
The GECDF credit facility is comprised of a floor plan component and an accounts receivable component and is used to finance inventory and accounts receivable related to the sales of products and services in its technology segment.
The amendment provides ePlus Technology with a total credit limit of $225 million, an increase of $50 million over the prior agreement, with a sub-limit of $30 million for the accounts receivable component.
ePlus will continue to guarantee this facility up to a limit of $10.5 million.
“This amendment further increases our capacity to efficiently and effectively support our customer base in order to provide advanced solutions,” said Elaine D. Marion, chief financial officer. “We are grateful to GECDF for their continued support over the past 10 plus years and greatly value our long-term relationship.”