Amerisource Business Capital closed a $500,000 credit facility for a packager and distributor of medical supplies based in Maryland. Proceeds of the facility were used to support working capital needs.
“We are pleased to close this financing for this new client,” Andy Allaire, regional market manager for Amerisource, said. “The management team has over 20 years of experience in developing, branding and distributing medical products but were not able to obtain traditional bank financing due to the startup nature of this company. We look forward to supporting this business as it pursues its growth objectives.”
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).