Daily News: October 28, 2013

Amerisource Closes $1.6MM Credit Facility for IT Staffing Firm

Amerisource announced the closing and funding of a $1.6 million credit facility for a business intelligence and IT services staffing and consulting company based in Georgia.

The company was referred to Amerisource by its previous lender when its largest account debtor began to exceed 50% of the total borrowing base. Amerisource structured its facility to maximize availability against this account debtor concentration and allow the company to continue its growth plans.

“This was a great example of Amerisource providing a valuable service not only to its clients, but also to other lenders in the market that have credit policies restricting account debtor concentrations,” said Michael Monk, managing partner of Amerisource. “It was a really good outcome for all three parties involved.”