GE Commercial Finance, through its Business Credit unit, announced that it has financed Kentucky Electric Steel, LLC with a three-year, $15 million credit facility.

Kentucky Electric will utilize the facility for working capital.

Headquartered in Ashland, Ky., Kentucky Electric Steel, LLC recycles steel from scrap, a process designed to result in lower production costs than those of traditional integrated steel mills, which produce steel by processing iron ore and other raw materials in blast furnaces. Their products are provided to the automotive, truck, trailer, building, cold drawn, and steel service center industries.

GE Commercial Finance Business Credit offers financing of up to $30 million and more, as needed, to manufacturers, distributors, wholesalers, retailers and service providers. Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $220 billion and is headquartered in Stamford, Conn.

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