GE Capital Commercial Distribution Finance has increased the credit limit on its existing credit facility with ePlus Technology from $225 million to $250 million, with a sub-limit of $30 million. ePlus will continue to guarantee the facility up to a limit of $10.5 million.
The facility, which was originally entered into in July of 2012, 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 amounts available under the agreements may be limited by the asset value of the inventory purchased and accounts receivable, and may be further limited by certain covenants and terms and conditions of the facility. Either party may terminate with proper notice.
“This amendment further increases our capacity to efficiently and effectively support our customer base in order to provide advanced solutions,” said Elaine D. Marion, ePlus Technology CFO. “We are grateful to GECDF for their continued support over the past 10 plus years and greatly value our long-term relationship.”