GE Said to Hire Banks to Start Sale on $20 Billion of Assets

General Electric Co. has put virtually all of its U.S. commercial loan businesses on the market after hiring banks to unload $20 billion of assets in its health-care, railcar and franchise finance divisions, according to people with knowledge of the matter.

JPMorgan Chase & Co. is working to sell Healthcare Financial Services, a middle-market lender with about $10 billion in assets, said the people, who asked not to be identified because the details are private. Deutsche Bank AG is finding a buyer for GE’s railcar lessor, and Barclays Plc is selling the franchise lender, the people said. JPMorgan is overseeing all the sales as global coordinator, one person said.