Amerisource Funding announced the closing and funding of a $3 million asset-based revolver for a transportation company in California servicing the retail industry.

The company was introduced to Amerisource by its CPA. The company was previously financed by a factoring company, but was looking to increase its funding availability and lower its financing costs.

“This is another great example of how our ABL platform is benefitting a wide range of companies across the country,” said Michael Monk, managing partner of Amerisource, “With so many borrowers in the small business sector looking to unwind from higher-cost credit facilities, we have seen a huge increase in demand for our ABL product. We expect this trend to continue for the foreseeable future.”