Amerisource Business Capital closed a $3 million credit facility for a transportation and logistics firm based in upstate New York. The company was introduced to Amerisource by its banker.
Proceeds from the facility were used to refinance the company’s bank line of credit and for additional growth and working capital.
Andy Allaire, market manager for Amerisource, stated, “We are pleased to be working with this company and its bank. Amerisource was able to deliver an asset-based revolver structure that provided greater flexibility and enabled the company to continue its growth aspirations. And the bank was able to retain the deposit relationship, so it was a great result for all three parties.”
