Daily News: June 4, 2013

Summit Closes Eight A/R Lines of Credit


Summit Financial Resources recently funded eight transactions totaling $7.75 million.

In the western region, Summit funded a $300,000 A/R credit line to a sporting goods distributor based in Los Angeles, and a $2.5 million A/R credit line to a consulting and training firm located in San Jose.

In the Midwest region, Summit funded a $500,000 A/R credit line to a distributor of laundry and dry cleaning supplies located in St. Louis, and a $200,000 A/R credit line to a vehicle transport company located near Minneapolis.

In the northeast region, Summit funded a $1 million A/R credit line to a manufacturer and distributor of nutritional supplements and a $750,000 A/R & inventory credit line to a manufacturer of precision instruments.

In the southeast region, Summit funded a $500,000 A/R credit line to a steel products reseller and a $2 million A/R & Inventory credit line to a steel fabricator based in Charlotte.