Associates Commercial Corp. has launched Technology Vendor Finance Group to provide finance and leasing services to manufacturers and distributors of technology-based products.
Initial target clients are those that sell software, data processing and storage equipment, telecommunications and networking equipment, and other technology-based products.
"Technology companies are typically fast-growing enterprises that can invest their capital to greatest advantage in their own products," said Robert Miramonti, president of Associates Equipment Finance Group. "By working with The Associates, technology companies free their capital for development purposes and make the purchase process easier for their customers."
Charles G. Schultz has been named president of the new group. He was formerly grouppresident for vendor finance at Heller Financial and has held business management positions with Sanwa Business Credit Corp. and Ford Motor Credit Co.