CLAREMONT, N.H.--(BUSINESS WIRE)--Red River, a widely recognized leader in IT hardware integration, maintenance and support services to the U.S. government, today announced an increase in its working capital credit facility by GE Capital’s Commercial Distribution Finance (CDF) business. The company’s credit limit has increased to $80 million from $500,000 five years ago, allowing Red River to meet increased customer demand as it continues to aggressively expand its business.
“CDF is embedded in the IT channel and they understand the working capital requirements of our business. Our rapid expansion means we need a lending source that can keep up with us and understands the intricacies of our business and capital requirements.”
“Red River has seen remarkable growth, aided by government contracts and purchasing vehicles that can account for millions of dollars in technology procurement, hardware integration and services revenue for Red River and its technology partners,” said Rick Bolduc, Red River’s CEO. “CDF is embedded in the IT channel and they understand the working capital requirements of our business. Our rapid expansion means we need a lending source that can keep up with us and understands the intricacies of our business and capital requirements.”
“We’re pleased to be able to deliver the credit capacity that solutions providers like Red River need to thrive,” said Mike Marcolina, managing director of CDF’s technology finance unit. “We continue to collaborate with technology vendors to provide flexible product and working capital financing solutions to the channel.”
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance is a leading financing provider to manufacturers and their distributors. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit http://www.americas.gecapital.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com.
About Red River
Founded on the core values of hard work, honesty and integrity, Red River provides IT hardware integration, maintenance and support services to the U.S. government. The company’s technology expertise and mission-critical experience helps its customers optimize their business processes and maximize the value of their IT investments. Red River combines an uncommon work ethic with exceptional service to deliver performance beyond expectations to its customers, partners and suppliers. For more information please call 800‐769‐3060 or visit www.redriver.com.