TeamStaff Amends Credit Facility With Presidential
TeamStaff, Inc., a healthcare and logistics services provider to the federal government, announced that its subsidiary, DLH Solutions, Inc., has signed an amendment with its primary lending institution, Presidential Financial Corporation.
Under this amendment, it will now have the borrowing potential of up to $6 million, an increase of up to 100% from the existing $3 million limit. The increase above the current credit limit is subject to the lender’s discretion and the company receiving certain approvals.
Tom Matthesen, CEO of Presidential Financial stated, “We are pleased to be able to further support DLH Solutions, which has been an excellent partner to work with during our nearly two year relationship. We understand its corporate vision for growth and focus as a leading healthcare, logistics and staff augmentation service provider to the U.S. government. We are glad we can assist in supporting DLH’s strategic initiatives with these additional capital opportunities.”
DLH’s president and CEO Zachary Parker stated, “We appreciate our relationship with Presidential Financial and are pleased with this line of credit expansion, which helps in better positioning us to be able to compete for and start-up larger government contracts that are within our strategic lines of business.”
TeamStaff Inc. serves clients throughout the United States as a full-service provider of healthcare, logistics and technical support services to DoD and Federal agencies.