GECC, Henessey Capital form joint ABCP venture

January 03, 2005, 12:00 a.m. EST 1 Min Read

As automotive suppliers are currently feeling the pinch of rising material prices, off shore competition, credit tightening and extended customer payment terms, GE Commercial Finance and Hennessey Capital Solutions have teamed to finance trade receivables in a new multi-seller conduit. HCSPay tracks trade transactions between suppliers and customers using this information to provide suppliers with daily options to sell receivables into the HCS program.

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