GE Capital is targeting more vendor partnerships in the US and has established a business development group led by Jim Kelly, managing director of its Vendor Finance division, to achieve the growth.

The group will focus on establishing vendor and dealer financing programmes with manufacturers in the IT, office imaging, transportation and healthcare industries.

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Diane Cooper, chief executive of GE Capital Equipment Finance, said: "The equipment markets in the US are beginning to grow again, which presents opportunities for us."

GE’s Equipment Finance arm, which includes the Vendor Finance division, has transacted more than $36bn (€28bn) in lending since 2007 and manages more than 40 manufacturer finance programmes, according to a company statement.

Kelly has nearly 30 years’ experience with GE Capital and has led its Vendor Finance arms since 2009.

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