Dallas keeps on truckin’ with GE Capital
For more than 35 years, Dave Capps — the owner of Capps Van and Truck Rental in Dallas, Texas — has been renting his vehicles to local organizations, churches and schools. But like many small business owners, he found himself caught right in the middle of the credit crunch — just as he needed to replenish his fleet of vans and trucks due to their routine wear-and-tear. What could have turned into another small business recession statistic instead ended up being a success story with the help of GE Capital.
Sign of the times: Anyone driving by this billboard in Dallas, Texas had no doubt about what a “credit crunch” really meant after Dave Capps spelled it out in giant letters.
Dave was just about to place an order for new GM vans in March when his lender of 20 years suddenly told him that they couldn’t provide him with the funds he needed. He wasn’t sure what to do.
“My customers expect quality rentals when they come to me and without new vehicles, I would lose business,” said Capps. “I couldn’t afford for that to happen, so I had to find another lender fast.” To help spread the word that he needed financing, he decided to make a big statement by posting his plight on a massive billboard in front of his business.
A capital idea: Dave Capps, seen here at his rental business in Dallas, Texas, is now able to go his way, which happens to be the highway, thanks to GE Capital, Fleet Services.
“I’ve seen some creative ways of trying to secure financing, but nothing quite like this,” said Jeff Iverson, regional sales manager for GE Capital, Fleet Services. “We were already talking to Mr. Capps when the billboard went up, but I think it was his way of keeping his options open since he had already been let down once.”
Mr. Capps admits that he did get a few calls although he ultimately chose GE Capital, Fleet Services as his lender.
“GE moved quickly and delivered on their promise of providing the loan I needed to place that order,” said Capps. “The new vans should be delivered to my lot by June — it’s a win for everyone from me and my customers to GM and GE.”
* Watch NBC’s video interview with Dave Capps
* Read the CBS story about the billboard first going up
* Read about GE Capital’s work with Boscov’s department store
* Learn more about GE Capital
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All these banks getting taxpayer bailouts and not loaning money. GE gets no taxpayer bailouts and they are able to loan money.
To: Longterm Investor -
GE did receive from the govt. $139B to survive this storm and laid off 11,000 employees….
wake up
GM turned your loan down and you got the loan with GE, but you still bought 1000 vehicles from the company that told you NO?? Why didnt you go with Ford? Sounds to me like Capps wanted a publicity stunt to draw customers since they have had to close several stores it looks like…
We are trying to get in touch with someone to work with us on a piece of equipment we have financed thru GE. We can’t get past the “no we aren’t going to do anything” & we think we have a resolution that would be good for both of us & still get a piece of equipment paid for. is there anyway to get to a person that cares enough about the customer & GE that I can talk to? We don’t want to just say the heck with it, here’s the truck, sue me. It’s a shame that they don’t want to talk to a small person thats trying to do the right thing! any ideas, please let me know.
GE CAPITAL
could you please tell me how i could obtain a loan for 2 businesses.
i need capital to expand my hvac company so i can hire some employees and help bolster the economy
Would like financing for ON BOARD FUEL PRODUCTION SYSTEM For automobiles.At present cost savings ie cost of gas per gal……………
Till Gov gets off its kester and starts making grants more exes-able. Also need a BIO hazard/recycling funding
wonder what GE is charging for this wonderful and amazing service, since they are paying Warren Buffett ten percent plus plu plus on the very large loan he made to them last year?
Dear GE Capital , Im L.Mike Kelley Owner of http://www.emotionsports.com ( Im on web-pages 3,8,9&11 )Who can I talk to about a $2.2 mil. Business Loan here in The LA, CA. 90292 area ? Ive Designed & Engineered The Emotion Airship which will do 250knt.s at 6500 ft. burning 1.4 lb.s/min. of Jet Fuel. 50% of the LIFT is via Helium and 50% LIFT is via FixedWing and a whole lot more possitives available thru pdf Files Ill SEND You-All once Ive a GE contact. Most Respectfully, L.Mike Kelley Pres. of Emotion Co.s (818)876-0122
SIR and LADY
Congratulations !
Does GE finance the purchase of commodities, since I have ready buyers?
By ford motor ford is the only co. with no bailout mony.Go ford.
How can i find out about some of the rv’s that are repossed. i’m looking for a good used 2004 monico executive
Will GE help a small Importer/retail fireworks business emerge from a Chapter 11 bankruptcy? Who would I need to contact at GE?
American citizens are PATHETIC.
Its really simple, take your deposits OUT of AP recipients or banks labeled too big to fail.
You people are begging for loans on this mini blog, its really depressing to see this. If we want banks to loan, we need to scare them to death . Only way to scare them to death is wiping out their cash on their balance sheets disrupting their tier 1 ratios. But, we’re a PATHETIC people, we complain, it stops there. We’re seemingly too lazy to act. As for this truck leasing guy, is HE EVEN SERIOUS???? He BOUGHT GM Vehicles? A govt welfare case that wouldnt finance his needs? What an absolute weak and disgusting businessman. He bought 1000 vehicles and his myopic selfish weak personality hurt other business owners. GM and the GOvt look at this and say, “see, citizens dont care”, American people so weak and short sighted, guys like this moron will buy 1000 vehicles from the very company that refused to finance him. Pathetic display of weak, socialistic begging. I hope Ryder puts this deceitful weak man out of business.
Can you people not read? Mr. Capps indicates his LENDER of 20 years would not provide him with the loan…NOT GM.