Connecticut-based financial services provider GE Capital’s corporate lending business has provided a $175 million accounts receivable securitization facility to Georgia Gulf Corporation, a chemicals company. The proceeds will be used for working capital needs.

In this type of structure, GE provides an asset-based loan secured by the company’s accounts receivables.

GE Capital, a financial services subsidiary General Electric Company, offers consumers and businesses around the globe an array of financial products and services.

Greg Thompson, CFO of Georgia Gulf, said: “GE worked closely with us to quickly understand our business objectives and structured a facility to meet our needs. We appreciated their ability to commit to the entire facility amount and close quickly.”