EDEN PRAIRIE, Minn. – GE Commercial Finance Fleet Services is partnering with Walden/Rosedale Leasing to provide leasing and loan products to the rental car industry. The new business arrangement will give rent-a-car companies access to lease and finance products from GE Commercial Finance, the business-to-business finance arm of General Electric.
Walden Leasing, owned by Dennis Hecker, has served the rental car industry for more than 20 years. Based in St. Louis Park, Minn., Walden Leasing has a lease portfolio of more than $400 million.
GE Commercial Finance Fleet Services, based in Eden Prairie, Minn., is a global fleet management company.
The two companies signed the business agreement on Oct. 4. Details of the transaction weren’t disclosed.
“In the spirit of imagination breakthroughs, this new relationship with Walden Leasing and its strong rental vehicle customer base put us in a new, growing marketplace,” said Kathy Marinello, president and CEO of GE Commercial Finance Fleet Service.