FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of a Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month(s) of: August 16, 1999
NEWCOURT CREDIT GROUP INC.
Newcourt Centre, 207 Queens Quay West
Suite 700
Toronto, Ontario
Canada, M5J 1A7
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F / / Form 40-F /X/
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
Yes / / No /X/
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b)]
82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: August 16, 1999
NEWCOURT CREDIT GROUP INC.
/__________________________/
By: John P. Stevenson
Corporate Secretary
NEWS FOR IMMEDIATE RELEASE:
Contact: National City Contact: Newcourt Financial
Bill Eiler Joe Kaplan
Media Relations Vice President of Marketing
(412) 644-8073 (973) 606-4671
[email protected]
National City and Newcourt to Offer Small Business Leasing
Cleveland, OH, & Parsippany, NJ, August 16, 1999 - National City Corporation
(NYSE:NCC) and Newcourt Credit Group Inc. (NYSE, TSE, MSE: NCT) today
announced an agreement to introduce the first Small Business Leasing Program
for National City customers.
Under the agreement, Newcourt Financial, a division of Toronto-based Newcourt
Credit Group, will provide customized small business leasing solutions through
National City's more than 1,300 branches in the United States, a network of
approximately 400 experienced Small Business Banking professionals and
collaborative marketing efforts.
"This agreement with Newcourt, a leader in commercial financing, is a major
advance in National City's growing commitment to helping small businesses
build a strong future," said Michael Price, National City's director of
small business banking. "The Small Business Leasing Program provided by
Newcourt Financial, a first for National City customers, will enhance and
expand our ability to deliver complete and flexible financial solutions that
are tailored to meet the needs of small businesses."
"Newcourt is excited about our new relationship with National City and the
opportunity to provide its small business customers with innovative leasing
alternatives. This program enables small businesses to cost effectively obtain
essential equipment and technology," said Bradley Nullmeyer, president of
Newcourt Financial.
National City expects to begin marketing the Small Business Leasing Program
to its customers in the fourth quarter of 1999. Newcourt Financial will
offer small businesses flexible leasing transactions ranging from $5,000 to
$100,000 for leasing the vital equipment they need, such as personal
computers, furniture, telephone and communications systems, fax machines
and commercial vehicles.
Richard M. Lawton, National City vice president and small business product
manager, said the program will "fill an important void by introducing many
entrepreneurs and small business owners to the benefits of leasing."
more...
Lawton said the benefits of leasing for small businesses include: cash
conservation and cash management; reduced down payments; lower up-front
costs; lower monthly lease payments; less bookkeeping; tax benefits; and the
flexibility to upgrade or replace technology and equipment.
Roger Crafe, Vice President and General Manager for Newcourt Financial, said
"this alliance enables National City and Newcourt to build and expand
relationships with more small business customers. Together, we will provide
fully integrated, seamless leasing solutions to National City's customers."
"The Small Business Leasing Program will offer National City customers
flexible financing plans, fast credit decisions, easy-to-understand
documentation and responsive, professional service." Price concluded, "This
agreement is a win-win for National City's small business customers, our
company and Newcourt."
About National City
National City Corporation is an $84 billion bank holding company based in
Cleveland, Ohio. The company offers a full range of financial services
including investment banking, brokerage, insurance, mutual funds and
traditional banking services to individuals and businesses. National City
can be found on the World Wide Web at www.national-city.com .
About Newcourt
Newcourt Credit Group is one of the world's leading sources of commercial and
corporate financing with more than $25 billion in managed assets and global
capability in 26 countries. Newcourt Financial is a division that provides
financing solutions for a wide range of industries, including companies in
information technology, telecommunications, office products, transportation and
construction. Newcourt Financial has developed customized financing programs
for companies including Dell Computer, Lucent Technologies and Snap-on.
