GreatAmerica Leasing Corporation - Company News - GreatAmerica Expands Commercial Paper Facility to $400 million

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» GreatAmerica Expands Commercial Paper Facility to $400 million

(Cedar Rapids, IA) – GreatAmerica Leasing Corporation announced today an increase in their warehouse borrowing facility effective January 31, 2007. The additional capacity arranged by Wachovia Capital Markets, LLC and State Street Global Markets, LLC, increased the facility by $100 million to $400 million.

This significant capacity increase is testimony to the continued strong performance of GreatAmerica. It will allow the company to sustain its strong growth rate while providing flexible financing options to its customers. In addition to this facility, GreatAmerica has lines of credit borrowing facilities with three other major national banks.

“Our relationship with Wachovia and State Street and our other banks has certainly strengthened over the years and they have proven to be reliable and committed financial partners,” said Tony Golobic, GreatAmerica President and Chairman of the Board. “GreatAmerica owes its success to its dedicated employees, its loyal customers and its financial partners. Over the years we have built strong relationships by developing superior product offerings and value added financial solutions that go beyond just simple equipment financing arrangements.”

GreatAmerica is the largest independent leasing company in the small ticket equipment financing market. It is dedicated to helping businesses in the office equipment, telecommunications, healthcare and certain retail markets be more successful by offering financing and business-related services. Based in Cedar Rapids, Iowa, GreatAmerica was founded in 1990 and currently has approximately $800 million in assets. It provides commercial equipment financing in all 50 states and some US territories.