GE Capital Provides $750 Million Credit Facility to Rush Enterprises to Support U.S. Truck Center Ex

Before you go, we thought you'd like these...
Before you go close icon

GE Capital Provides $750 Million Credit Facility to Rush Enterprises to Support U.S. Truck Center Expansion

Extends 30-year relationship

IRVING, Texas--(BUSINESS WIRE)-- GE Capital's Transportation Finance business announced today that it has increased its credit facility for Rush Enterprises, Inc. (NAS: RUSHA) (NAS: RUSHB) to $750 million from $600 million. Rush, which operates the largest network of commercial vehicle dealerships in North America, will use the funds to purchase new and used truck inventory. GE Capital Markets served as the arranger on the transaction.

Rush is in the process of expanding in North Carolina, Ohio, Kansas, Missouri and Virginia. Once completed, there will be 88 Rush Truck Centers in 18 states. The company's dealerships sell multiple brands of heavy-duty Class 8 trucks as well as medium-duty Class 4-7 equipment and light-duty vehicles.

GE Capital and its antecedent companies have been financing equipment for New Braunfels, TX-based Rush for 30 years. The new agreement extends through July 11, 2016.

"We appreciate our long-standing relationship with GE Capital's Transportation Finance team," said Rusty Rush, the company's chairman and CEO. "We're confident that we can depend on GE to be there for us as we continue to expand our geographic footprint throughout the U.S."

For more than 35 years, GE Capital, Transportation Finance has supported the commercial trucking industry with customer-centric financing programs that enable dealers to stock products. Inventory financing, also called floorplan financing, is an essential component of a successful manufacturer-dealer relationship. Manufacturers expect to benefit from improved product flow and increased sales opportunities, while dealers generally obtain enhanced credit availability and flexible programs.

"Rush is a key player in the U.S. trucking industry and we're proud to help them grow their business," said Dan Clark, president and general manager of GE Capital, Transportation Finance. "As dealers continue to grow their businesses, either through acquisition or organically, they need to have a reliable source of funding and that is what we offer. And that's why Rush and many other successful dealerships look to GE Capital for funding."

About Rush Enterprises, Inc.

Founded in 1965, Rush Enterprises, Inc. owns and operates the largest network of commercial vehicle dealerships in the U.S., representing a variety of truck and bus manufacturers. The company's dealerships are strategically located in high traffic areas on or near major highways throughout the country. These one-stop centers offer an integrated approach to meeting customer needs — from sales of new and used vehicles and equipment to aftermarket parts, service and body shop operations plus a wide array of financial services, including financing, insurance, leasing and rentals. Rush Enterprises' operations also provide vehicle up-fitting, custom modifications, chrome accessories and tires. For more information, please visit

About GE Capital, Equipment Finance

Located in Irving, TX, GE Capital's Transportation Finance business serves all parties in the U.S. transportation industry — including manufacturers, dealers and end-users — with wholesale and retail financing. For more information, visit

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit or follow company news via Twitter (@GECapital).

GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at

GE Capital, Americas
Lisa Tibbitts, 203-956-4582

KEYWORDS:   United States  North America  Texas


The article GE Capital Provides $750 Million Credit Facility to Rush Enterprises to Support U.S. Truck Center Expansion originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading