Colorado Business Bank provided a new $2 million term loan and a $1 million operating line of credit to Assure Holdings, a provider of intraoperative neuromonitoring services.
Under the terms of the agreement, the term loan bears interest at 6.0% and matures in 2022, while the operating line of credit bears interest at a rate of LIBOR plus 3.5% and matures in 2020.
The proceeds from both facilities will be utilized for working capital and general corporate purposes, along with funding the company’s expansion plans.
“Finalizing the new loan facility is a significant milestone for Assure and further strengthens our financial position going forward,” said John A. Farlinger, Assure’s executive chairman and interim CEO. “The funding provides us with additional capital to support the company’s growing corporate operations and continued expansion into new geographical markets.”
