CHDT Announces New $1 Million Revolving Line of Credit
CHDT Corporation, a provider in the design and manufacture of specialty power failure lighting solutions and innovator of consumer safety and security products for the North American retail markets, announced it closed a $1 million revolving line of credit agreement with Postal Capital Funding. The credit agreement, with an annual percentage rate of 8.0%, matures April 1, 2013, with annual renewal options.
Stewart Wallach, president and CEO, commented, “This new credit line provides us the flexibility required to fund our growth and execute on our strategic initiatives. Importantly, it also represents the commitment Dr. Jeffrey Postal, a director, and James G. McClinton, CFO, who are principals of Postal Capital Funding, have in the future prospects of CHDT.”