Daily News: November 8, 2013

Amerisource Provides $1MM for Frozen Foods Supplier

Amerisource announced the closing and funding of a $1 million facility for a frozen foods supplier. Proceeds of the facility were used to refinance existing bank debt and provide additional working capital for the company.

The company, based in Upstate, NY, recently won a contract to supply a national grocer with its full line of frozen foods. Its existing bank realized that a larger line of credit would be needed and that A/R financing would be the best means to finance the company’s growth. The banker referred the company to Amerisource, and Amerisource was able to approve and close very quickly.