Amerisource Funding closed a $1 million revolving line of credit for a Pennsylvania-based company that provides services to coal mines.

Proceeds of the facility are being used to refinance an existing line of credit and equipment loans and provide additional growth capital.

The facility was needed when the company’s current equipment lender sought to reduce its overall exposure to the mining industry. The lender referred the company to Amerisource. Amerisource’s ability to react quickly and handle a single debtor concentration resulted in a satisfactory solution.

Houston-based Amerisource Funding is an independent commercial finance company providing working capital financing and outsourced receivables management to small and middle market companies with financing needs from $50,000 to $15 million.