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Textile News

GMAC Merges Credit Businesses, Opens L A Office

GMAC Commercial Finance, Southfield, Mich., has been formed through a merger of GMAC Business Credit and GMAC Commercial Credit. The new company has four US divisions: Asset Based Lending; Commercial Services; Equipment Finance; and Structured Finance; as well as Canadian and United Kingdom operations. GMAC Commercial Finance provides financial services to clients in the apparel industry, among other industries.

The company has opened an office in Los Angeles, which houses the West Coast operations of its Commercial Services Division and its Structured Finance Division.

March 2003




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