GE Commercial becomes twice as nice.

GE Commercial Finance announced that it has combined its existing single tenant commercial real estate financing business with its small business financing unit to create GE Commercial Finance, Business Property.

The new organization combines the services of GE's former Small Business Finance and Business Asset Funding groups into a powerful new entity, represented by a strengthened origination team and backed by an expanded array of innovative financing programs. With assets of over $13 billion and annual volume of $3 billion, it will serve an expanded range of customers and industries in U.S. markets including more than 10,000 commercial real estate owners, investors, developers, and mortgage brokers.

"Our market-focused sales teams will offer multiple solutions across the entire credit spectrum, from small to middle market businesses, in a wider range of industries," said Bruce J. Nelson, president of Business Property. "This new structure enables us to speed up transaction processing to give customers the flexible financing they need in less time." Nelson added that a strengthened marketing organization will enable Business Property to introduce unique products tailored for every customer.

Business Property will continue to offer its conventional mortgage debt and Small Business Loans, as well as structured products to businesses in diverse industries. Examples include the SMART Loan with reduced fees and faster processing and Construction to -Permanent loan packages.