Amerisource Business Capital closed and funded a $9 million ABL credit facility for a transportation company in the Midwest.
Proceeds from the facility were used to support the company’s continued growth.
“This client is growing on all fronts — real estate, trucks, trailers, employees and through acquisitions,” said Nic Wagner, market manager for Amerisource. “As collateral lenders, we are able to provide growth capital free of financial covenants, which will allow this client to reach their goal of 50% revenue growth over each of the next two years. The banks involved were happy to finance the equipment and real estate terminal, leaving the working capital financing needs to Amerisource.”