GE Capital support for rentals sector
GE Capital, Equipment Finance is expanding its financing programme for dealers to purchase construction equipment for use in their rental fleets. About half of the US dealers offer rentals in addition to sales, a figure that's expected to grow in 2014 and beyond. According to the American Rental Association's Rental Market Monitor service, the construction and industrial segment of the rental industry will grow 9.1 per cent to $24.4 billion in 2014 and 10.5 per cent to $26.9 billion in 2015 in the US. Jim Kelly, Managing Director of GE Capital's Vendor Finance business says that dealers typically pay cash for equipment that costs less than $10,000 each, but may be interested in financing more expensive equipment. GE Capital offers line-item financing where equipment is purchased unit-by-unit, allowing dealers more flexibility.