NORWALK, Conn.--(BUSINESS WIRE)--Jan. 4, 2005--GE Commercial Finance Business Credit announced that it has arranged a $25 million revolving credit facility for Calpaco Papers, Inc. The facility and an associated $750,000 term loan were arranged by Business Credit and will be used to refinance existing debt. The transaction closed on December 17.
Based in Mira Loma, Calif., Calpaco Papers is a wholesaler and converter of fine printing paper.
"GE Commercial Finance quickly satisfied all my concerns and responded with solutions to all my needs," said Paul Maier, CEO, Calpaco Papers. "I now can proceed with running my business with a flexible finance firm that knows its business and has the ability as well as the desire to know mine."
"One of our key strengths is our ability to look at a customer's assets in an open-minded way, and best utilize them to the company's advantage," said David Williamson, vice president, GE Commercial Finance Business Credit. "We were happy to develop and implement a financing solution in line with Calpaco Papers' specific business requirements."
About GE Commercial Finance Business Credit
GE Commercial Finance Business Credit offers financing of up to $30 million and more, as needed, to manufacturers, distributors, wholesalers, retailers and service providers. Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services. For more information on the businesses and products of Business Credit, please visit www.gelending.com.
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.
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CONTACT:
GE Commercial Finance
Ned Reynolds, 203-229-5717
or
TorranceCo
Jim Marren, 212-786-6133
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340