Daily News: October 16, 2013

Amerisource Provides A/R Factoring Facility for Utility Servicer

Amerisource announced the closing and funding of a $750,000 A/R factoring facility for an underground utility servicer. Proceeds of the facility were used to fund ongoing working capital.

The company, located in Indiana, had historically been able to finance its business without any debt. However, increased sales with two of its major customers led to the company seeking additional working capital to support the growth.

The company cited low cost and certainty of closing as the two primary reasons for selecting Amerisource for the financing.