Nortech Systems executed a sixth amendment to its loan and security agreement with Bank of America.
Nortech entered into the original agreement on June 15, 2017, and the agreement was set to expire on June 15, 2022. Nortech and Bank of America agreed to renew the credit facility and extend the maturity date until June 15, 2026.
Under the credit facility, Nortech utilizes a $16 million asset-based lending facility to finance working capital.
