GE Capital Provides MerchSource Facility
GE Capital announced it is providing MerchSource with a $130 million senior credit facility providing working capital for the company’s operations in the U.S. and Hong Kong.
“We combined our capabilities in the U.S. and Hong Kong to create a global financing program that meets MerchSource’s needs as they continue to grow the company,” said Bob McCarrick, chief commercial officer, Lending at GE Capital, Corporate Finance. “We specialize in finding innovative financial solutions for mid-size customers.”
“GE Capital’s global capabilities and their ability to provide a flexible working capital solution across two countries helps us keep pace during our peak selling seasons,” said Johann Clapp, co-founder of MerchSource. “We have built a strong working relationship with GE Capital over the last several years and value their team’s dedication to our success.”
Irvine, CA-based MerchSource ideates, designs, develops and distributes a variety of consumer products in categories including electronics, toys, home décor, household accessories and pet supplies. Their products are sold in some of the nation’s largest retailers including Bed Bath & Beyond, CVS, Kohl’s, Macy’s, Target, Walgreens and Wal-Mart.