Daily News: March 13, 2013

GE Capital Provides $40MM Facility for ASI System Integration

GE Capital’s Commercial Distribution Finance (CDF) business announced that it established a $40 million inventory and working capital financing credit facility for ASI System Integration, 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.”

ASI provides a range of IT solutions for all industries, including consulting, systems design, integration, lifecycle sourcing, asset disposition and IT workforce staffing.

GE Capital, Commercial Distribution Finance provides financing for more than 40,000 manufacturers, dealers and distributors across North America.