Daily News: June 26, 2014

Amerisource Provides Facility for Oilfield Exploration Servicer

Amerisource announced the closing and funding of a $500,000 working capital revolver, secured by accounts receivable, for an oilfield service company based in Texas. Proceeds of the facility were used for growth and working capital.

The company provides vacuum truck and containment services, and is a subsidiary of a larger conglomerate serving the oil and gas industry. Amerisource was brought in by the company’s consultant to improve cash flow, billing, credit management and accounts receivable turnover.