Daily News: October 31, 2012

Summit Closes Eleven Transactions Totaling $12 Million


Summit Financial Resources funded over $12 million in credit lines to companies in every region across the country. The deals included:

In the Western region, Summit funded an $850,000 A/R and inventory credit line to a health products manufacturer in southern California and $1 million A/R credit line to a cleaning service based in northern California.

In the Intermountain region, Summit funded a $200,000 A/R credit line to a wholesale food distributor in northern Utah.

In the Southwest region, Summit funded a $4 million A/R and inventory credit line to a video conferencing company in Fort Worth.

In the Midwest region, Summit funded a $500,000 A/R credit line to a concrete company in Illinois, a $300,000 A/R credit line to a moving company in Illinois, a $500,000 A/R credit line to an IT consulting company in Ohio and a $2 million A/R credit line to a temporary staffing company in Ohio.

In the Northeast region, Summit funded a $1 million A/R and inventory credit line to a manufacturer of uniforms in Pennsylvania, and a $1.5 million A/R credit line to a bus service in New York.

In the Southeast region, Summit funded a $250,000 A/R credit line to an equipment rental company in Georgia.