3Re.com Gains Financial Boost from GE Capital.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Nov. 3, 1999-- 3Re.com, the first and only company to introduce a comprehensive Returns Processing, Repair/Re-Manufacturing, and Internet Re-Marketing solution for electronic products, announced today that GE Capital will provide 3Re.com with a $9.6 million asset based revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility. "This is a significant step forward in realizing the aggressive expansion of our distinctive e-commerce model. The financial support provided by GE Capital will help 3Re.com to position itself to exclusively lead the Internet marketplace in integrated returns management, re-manufacturing and re-marketing services," stated Russ Grove, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 3Re.com. About 3Re.com 3Re.com combines the power of the Internet with unique solutions to create integrated value propositions for high technology manufacturers, businesses and individual consumers. Located minutes from the leading global airfreight air·freight n. 1. A system of transporting freight by air. 2. The amount charged for transporting freight by air. air hub, 3Re.com is the world's largest independent, hub based e-commerce and service facility, with over 400,000 sq. ft and is an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 certified company. Services include the management of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and product Returns, the Repair and Re-manufacturing of these products, and an exceptional level of e-commerce convenience through a unique Re-marketing program that includes post sales service and support. Supplementary value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services include sales demo management and fulfillment, advance exchange and warranty fulfillment programs, and Build to Order/Configure to Order options. Headquartered in Memphis, Tennessee, 3Re.com supports major electronics manufacturers and their related channels and end-users. About GE Capital GE Capital, through its Commercial Finance group, is a leader in providing working capital and other credit facilities to help companies grow. For additional information, visit 3Re.com's web site at www.3Re.com or contact the public relations office at 6269 E. Shelby Drive, Memphis, TN 31841, (800) 756-5563. |
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