GE Capital Provides $100 Million to Monrovia Nursery
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NORWALK, Conn.--(Business Wire)-- GE Capital, Corporate Finance today announced it provided a $100 million asset-based credit facility to Monrovia Nursery, one of the world's largest producers of container grown plants. The loan will be used for working capital needs. GE Capital Markets served as co-lead arranger. Founded in 1926, Azusa, CA-based Monrovia has been a GE Capital client since 2004. Monrovia grows more than 20 million container-grown plants in 2,000 varieties and ships plants to independent garden centers nationwide. The company has introduced some 300 exclusive varieties, holding more than 200 patents and trademarks. "GE Capital continues to provide us with the liquidity we need to meet our business objectives," said Tyler Page, CFO of Monrovia Nursery. "Especially in this environment, having a lender who truly understands our business and delivers on what they promise is extremely valuable." "We work closely with customers to provide the financing they require to support their working capital needs," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "Significant commitment levels and certainty of execution means timely access to capital for our borrowers." About GE Capital, Corporate Finance GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Government Finance, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. Visit gelending.com/clnews. About GE Capital GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com. GE Capital, Corporate Finance Jeff Wilson, 203-749-6340 jeffrey.wilson@ge.com or GE Capital, Norwalk Ned Reynolds, 203-229-5717 ned.reynolds@ge.com Copyright Business Wire 2009
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