IBC Advanced Alloys secured renewals of its existing line of credit and its term loan facility with BMO Harris Bank.
Approximately $3.5 million is available to the company under the line of credit at an interest rate of prime plus 2.25%, with the term loan having a maximum of approximately $1.2 million at an interest rate of 6.5%.
“We wish to thank BMO Harris Bank for its continuing support of and partnership with IBC as we intensify our efforts to strengthen IBC’s operational performance and grow global sales of the unique mission-critical alloy products that we manufacture,” Mark A. Smith, CEO and director of IBC, said.
