Daily News: July 16, 2012

AloStar Provides Credit Facility to Warner Robins Supply

AloStar Bank of Commerce said it has provided a $5 million secured credit line to Warner Robins Supply Company, a 65-year-old building materials retailer. The deal was completed in partnership with Dublin, GA-based Morris Bank, which provided a separate credit line to Warner Robins Supply.

“Warner Robins Supply is a long standing institution in Middle Georgia that was having trouble accessing the credit they needed to operate,” said Andy McGhee, president of AloStar Business Credit, the bank’s lending arm. “We were pleased to partner with Morris Bank to provide Warner Robins Supply with a flexible line that suits its needs and help a strong, locally owned second-generation family business regain its competitive edge.”

“The partnership with Morris allows us to leverage our expertise in asset-based lending as they seek to meet the needs of a new customer,” added McGhee. “As a correspondent bank and focused, asset-based lender we can help community banks seeking new revenue sources and relationships.”

“Warner Robins Supply needed a new bank that believed in them and could help them navigate their new course. By partnering with AloStar, we were able to provide all of their credit needs,