Daily News: August 28, 2012

Summit Financial Provides $8MM in Working Capital


Summit Financial Resources said it has provided $8 million in working capital solutions to companies across the country.

In the Midwest, Summit provided a $2 million credit line to a trucking company based in Wisconsin, a $1 million A/R and inventory line to a metal fabricator in Iowa and a $300,000 credit line to a metal polishing service in Indiana.

In the West, Summit provided a $700,000 credit line to a staffing firm in northern California. In the Southeast, Summit provided a $150,000 credit line to a cheese processor in Tennessee, a $1 million A/R and inventory line to a furniture manufacturer in Mississippi, a $2 million credit line to a manufacturer of fixtures located in Georgia and a $1 million credit line to a distributor of pharmaceuticals based in Florida.