Daily News: March 14, 2012

GE Capital Provides $40MM Credit Facility to IT Reseller

GE Capital’s Commercial Distribution Finance (CDF) business said it will provide $40 million in inventory financing and working capital to Redapt, a data center infrastructure solutions provider and hardware reseller based in Redmond, WA.

This new program allows Redapt to acquire capital to meet the needs of its growing business. Redapt is a value-added reseller that delivers data center solutions ranging from private and hybrid cloud infrastructure to turn-key rack integration to basic product fulfillment. Inventory financing is an important element of a successful value-added reseller (VAR) business model. CDF has been supporting the IT industry for more than 30 years.

“GE Capital was able to provide credit capacity and structure while allowing us to maintain our current bank relationships,” said Rick Cantu, CEO, president and co-founder of Redapt. “We now have the ability to execute our continued growth with the strength and backing of a strong finance company.”

“GE Capital is pleased to work with Redapt and its vendors, such as Dell, to provide the working capital financing necessary to meet the needs of its customers,” said David Laurence, vice president and sales director of CDF’s technology finance unit.