Daily News: October 1, 2014

Amerisource Closes $1MM Facility for Organic Food Distributor

Amerisource Funding announced the closing and funding of a $1 million working capital revolver, secured by A/R for an organic food distributor in New York.

The company is a national distributor of organic snack foods with a strong following from health-conscious parents. Historically, the company has maintained steady revenues and profits, and recently, it received a large order from a well-known national retailer that would immediately double the company’s ongoing revenue.

While the company had a strong relationship with its local community bank, the bank was not able to increase its line of credit to accommodate the company’s continuing growth. Amerisource worked with the company to provide the working capital needed to complete the order and continue its sales growth objectives.