General Electric Capital Corp., 230 S. 500 East, has created a technology equipment financing group to complement its existing commercial equipment financing entity.

The new TEF operation was formed to address the unusual financing needs of high-technology industries, according to John Good-man, account executive. He said high-tech businesses are faced with the need to acquire state-of-the-art equipment to support product development and production life cycles that are much shorter than in traditional businesses.Goodman said many high-tech companies are looking at alternatives to traditional bank financing and paying cash for capital equipment. One way to provide a hedge against obsolescence is through flexible operating leases where a company enjoys the use of equipment without the risks of ownership.