TCA Global Provides Oncologix Tech Revolver
Oncologix Tech announced that it has closed on a $4 million revolving line of credit. Under the terms of the agreement, TCA Global Credit Master Fund committed to lend the $4 million through one of the Fund’s senior secured revolving notes, with an initial draw of $500,000. The company must meet specific monthly reporting and collateral requirements to further draw on the revolving credit facility.
Wayne Erwin, CEO of Oncologix, stated, “We are delighted to secure a credit facility with TCA Global that will support our company’s financing needs throughout 2014. This facility will assist us with vital working capital and provide the capital structure needed to further our corporate strategy of continued growth primarily by acquisitions in our Healthcare Services division.”
Oncologix operates and manufactures Class II medical device products and delivers Personal Healthcare Services nationally. For its clients, Oncologix provides FDA approved medical devices and state licensed healthcare services.