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Amerisource Closes $5,000,000 Credit Facility for Specialty Manufacturing Company
August 12, 2019
Source: Amerisource Business Capital
Amerisource Business Capital announced the closing and funding of a $5,000,000 credit facility for a manufacturing company based in Texas which supports the LNG industry. Proceeds of the facility were used to refinance the Company’s existing bank revolver and term facility and for additional growth capital.
Daniel Martinez, Regional Market Manager for Amerisource, stated: “We are pleased to welcome this new client. The business has a seasoned management team, long history and strong balance sheet. They had been looking for more flexible growth capital than their bank was able to provide. Amerisource provided a $3,000,000 revolver against A/R and inventory, as well as a $2,000,000 term facility secured by real estate, machinery and equipment.“
“With our home office based in Texas, Amerisource is uniquely positioned to support the energy industry. We look forward to partnering with this client and helping them achieve their growth and business objectives,” said Bill Herrington, Executive Vice President for Amerisource.
About Amerisource Business Capital | Amerisource Funding
Amerisource is one of the largest independent finance companies in the nation, having provided over $7 billion in capital to borrowers and clients through both its asset based lending arm (Amerisource Business Capital) and its A/R financing arm (Amerisource Funding). Amerisource has offices located throughout the United States. www.amerisource.us.com