Heller Is Sold for $5.3 Billion

The former small-business lender's move to the midmarket made it an attractive acquisition for GE Capital

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July 31, 2001 at 4:00 AM UTC

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Heller Financial, which until this year was a leading nonbank small-business lender, is being sold to GE Capital, the finance arm of General Electric Co., for about $5.3 billion in cash.

Heller pulled out of the Small Business Administration loan market in February 2001 to focus exclusively on middle-market companies with annual revenues between $5 million and $250 million.