Diversified Financial Services
Company Overview of General Electric Capital Corporation
General Electric Capital Corporation provides various financial products and services worldwide. The company’s Commercial Lending and Leasing segment offers collateralized loans, leases, and other financial services to manufacturers, distributors, and end-users for various equipment and capital assets, such as industrial-related facilities and equipment, vehicles, and corporate aircraft, as well as equipment used in the construction, manufacturing, transportation, media, communications, entertainment, and healthcare industries. Its Consumer segment provides private-label credit cards, personal loans, bank cards, auto loans and leases, mortgages, debt consolidation, home equity loans, deposit...
901 Main Avenue
Norwalk, CT 06851-1168
Founded in 1932
Key Executives for General Electric Capital Corporation
Chairman and Chief Executive Officer
Chief Executive Officer of GE Japan Corporation
Senior Vice President of GE
Compensation as of Fiscal Year 2013.
General Electric Capital Corporation Key Developments
NACCO Materials Handling Group Inc. Enters into Second Amended and Restated Joint Venture and Shareholders Agreement with General Electric Capital Corporation
Nov 27 13
On November 21, 2013, NACCO Materials Handling Group Inc. entered into the second amended and restated joint venture and shareholders agreement with General Electric Capital Corporation. This agreement amends and restates the restated and amended joint venture and shareholders agreement dated April 15, 1998, as such has been amended from time to time, and certain ancillary agreements, to set forth the terms and conditions on which NMHG and GECC shall continue to operate NMHG Financial Services, Inc., an entity owned 20% by NMHG and 80% by GECC, through December 31, 2018. NFS was formed primarily for the purpose of providing financial services to independent Hyster and Yale lift truck dealers and National Account customers in the United States. NFS provides debt financing to NMHG's independent dealer network and lease financing to dealers and customers. Under the terms of the agreement, NMHG provides recourse for financing provided to its dealers by NFS. Additionally, the credit quality of a customer or concentration issues within GECC may necessitate that NMHG provide recourse or repurchase obligations of the lift trucks purchased by such customers and financed through NFS. NMHG also provides a guarantee to GECC for 20% of NFS' debt with GECC, such that NMHG would become liable under the terms of NFS' debt agreements with GECC in the case of default by NFS. In addition, NMHG provides certain services to NFS for which it is entitled to receive compensation under the terms of the agreement. The services consist primarily of administrative functions and remarketing services. The agreement is effective through the base term and will automatically renew for additional periods of one year unless either party terminates the agreement upon written notice for cause.
GE Names Michael F Silva as Vice President, Chief Regulatory Officer and Compliance Leader of GE Capital
Nov 25 13
GE on November 22, 2013 named Michael F Silva as a new company officer based in Norwalk, Connecticut. Silva will take over as vice president, chief regulatory officer and compliance leader of GE Capital as of 2 December and report operationally to GE Capital's chairman and chief executive officer Keith Sherin and functionally to GE's general counsel Brackett Denniston. Most recently, Silva served as the senior supervisory officer at the Federal Reserve Bank of New York. Earlier, he served as chief of staff to former secretary of treasury, Tim Geithner during his time as president of the Federal Reserve Bank of New York.
GE Capital, Transportation Finance and Clean Energy Fuels Corp. Form Strategic Alliance to Accelerate Adoption of Natural Gas in Trucking Industry
Oct 21 13
GE Capital's Transportation Finance business and Clean Energy Fuels Corp. have entered into a strategic alliance to accelerate the conversion of heavy-duty trucking fleets from diesel to cleaner-burning, less-expensive natural gas. To take advantage of this opportunity, truck fleet operators will first work with Clean Energy to develop natural gas fueling contracts, and will then apply for loans and leases, including fair market value leases, from GE Capital to acquire trucks from manufacturers that produce commercial natural gas vehicles (NGVs). Clean Energy will then help offset the monthly cost of newly-acquired NGVs to make it consistent with the cost of a diesel truck, if the customer makes a fuel commitment. Class 8, or heavy-duty, trucks can use both compressed natural gas (CNG) and liquefied natural gas (LNG). Both CNG and LNG cost significantly less than diesel -- a key factor considering that fuel comprises nearly 40% of a typical over-the-road carrier's operational costs.
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