GE Capital’s Equipment Finance business has launched a financing program for commercial and municipal customers of Generac Power Systems. Generac supplies standby power systems for residential, commercial and industrial customers.
Under the program, GE Capital provides loan and lease financing options for customers who purchase commercial and industrial generators, through distributors as well as Generac’s authorized dealers.
“It’s important for everyone to be prepared for power outages,” said Kyle Raabe, vice president of industrial sales distribution for Generac. “We’ve built a relationship with GE Capital so that businesses and operators of critical infrastructure can more easily acquire standby power systems to protect themselves, their customers and their residents from severe weather.”
GE Capital Equipment Finance is a long-time provider of financing for equipment manufacturers and their commercial customers. Leasing rather than purchasing equipment typically allows businesses to keep working capital on hand while obtaining equipment at a lower price point.
“Financing can provide end-users with better cash management and greater financial flexibility over time,” said Jim Kelly, managing director of GE Capital, Equipment Finance’s business development team.
GE Capital’s Commercial Distribution Finance business already provides inventory financing, also called floorplan financing, to authorized Generac dealers.
Generac is headquartered in Waukesha, Wis.