Daily News: September 24, 2013

Amerisource Closes ABL Facility for BaronHR

Amerisource announced that its ABL division, Amerisource Business Capital, closed and funded a $6 million revolving credit facility for BaronHR, a nationwide staffing company based in Delaware. The company had previously been factoring its accounts receivable with a lender in the Midwest.

Proceeds of Amerisource’s new line of credit were used to refinance the company’s factoring obligations and provide additional growth capital.

“We are delighted to welcome BaronHR to the Amerisource family”, said Michael Monk, managing partner of Amerisource Business Capital. “Lou has built a great brand in his industry, and we look forward to helping his business achieve further success.”

“Amerisource Funding has been a true blessing,” said Lou E. Perez, CEO of BaronHR, “From start to finish, all employees and upper management have been great to work with and very responsive to getting things done in a fast and accurate manner. I highly recommend them!”