Cummins secures GE loan
NORWALK, Conn. – GE Commercial Finance Corporate Lending has provided a $400 million loan to Cummins Inc., GE said in a press release today. The financing will be used to fund working capital needs and the loan may be increased to $500 million subject to the satisfaction of certain terms and conditions.
“GE provided the entire facility and they were able to move quickly because they understand our business and the end markets we serve,” said Richard Harris, Cummins Inc. treasurer. “In addition, with its Access GE program, Cummins has the ability to leverage some of the management best practices that have made GE a successful industrial company for more than a century.”
Exclusively for clients, Access GE is a program that provides access to world-class GE management best practices that can help improve business performance.
“Our team worked closely with Cummins management to understand their financing and business needs,” said Tom Quindlen, GE Corporate Lending president and CEO. “Custom finance structures, in-depth industry knowledge and programs like Access GE mean smarter capital for our clients.”
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