Amerisource Business Capital closed and funded a $1 million credit facility for a Michigan-based manufacturer and distributor of component parts for heavy equipment.
Proceeds from the facility were used to refinance existing bank debt and to provide growth capital.
Andy Allaire, market manager for Amerisource, said, “This client has a very long operating history. The company recently made investments to accelerate growth, resulting in interim losses. Amerisource was brought in by the company’s banker as a financing solution during this period of growth. We were thrilled to work with this owner and very seasoned management team, as well as to provide a solution for the bank, and we look forward to our continued partnership.”
