BMO Harris Bank increased the available capacity for IBC Advanced Alloys’ operating credit facility, dated Oct. 1, 2012, from $3 million to $3.5 million.
“We are very pleased with this expansion of our credit facility with BMO, as it provides IBC with additional resources to support business operations as well as our ongoing efforts to expand capabilities and sales,” Mark A. Smith, board chairman of IBC Advanced Alloys, said. “Our focus at IBC is all about performance, performance, performance. We look forward to building on the company’s recent financial performance and continuing to advance toward our goal of achieving sustained profitability.”
The rate of interest associated with this credit facility is prime plus 2.25%.
