Amerisource Business Capital closed and funded a $5 million credit facility for a steel fabricator based in Montana. The proceeds were used to refinance existing bank debt and to support growth.
“We are pleased to welcome this new client. Their business has a long history of success but is asset-heavy and has challenges with inconsistent cash flows,” Andy Allaire, regional market manager for Amerisource Business Capital, said. “The company’s bank continues to provide term financing for the real estate and equipment but was no longer able to support the revolving facility. So Amerisource was brought in to refinance and increase the revolver. The ownership has been great to work with and they are deeply committed to the continued growth and success of the business.”
Founded in 1984, Amerisource is a direct lender to businesses throughout the United States with borrowing needs up to $20 million. The company has provided more than $8 billion in capital to borrowers and clients through both its asset-based lending arm (Amerisource Business Capital) and A/R financing arm (Amerisource Funding).