Daily News: August 12, 2019

Amerisource Closes $5MM Facility for Specialty Manufacturer

Amerisource Business Capital closed a $5 million credit facility for a manufacturing company based in Texas which supports the LNG industry.  Proceeds of the facility were used to refinance the company’s existing bank revolver and term facility and for additional growth capital.

“We are pleased to welcome this new client.  The business has a seasoned management team, long history and strong balance sheet.  They had been looking for more flexible growth capital than their bank was able to provide.  Amerisource provided a $3 million revolver against A/R and inventory, as well as a $2 million term facility secured by real estate, machinery and equipment,“ said Daniel Martinez, Regional Market manager for Amerisource.