Colorado Business Bank Expands iSatori Credit Line
iSatori announced that Colorado Business Bank renewed and expanded its commercial bank line of credit availability for iSatori from $1.5 million to $2 million, based on the company’s operating performance and assets.
This extended borrowing relationship is under the same terms, conditions and similar borrowing base covenants of the prior revolving line of credit, and it has been renewed for another 15 months, through November 2015.
This additional borrowing capacity will allow the company to support the growth of its sports nutrition products, as well as continue to build up inventory.
iSatori Chief Executive Officer Stephen Adele said, “Our continued profitable growth has provided our CoBiz banking partner with the confidence needed to expand our credit facility and improve our working capital. We are excited we have not only secured but expanded the necessary bank capital to help us capitalize on the awareness and popularity of our branded products that continue to gain in popularity as we expand our sales efforts.”
iSatori is a consumer products firm that develops and sells scientifically engineered nutritional products through online marketing, Fortune 500 retailers, and retail stores around the world.