Daily News: January 29, 2018

BofA Upsizes Xplore Line of Credit to $20MM

Bank of America amended its secured line of credit for Xplore Technologies, a manufacturer of rugged tablet PCs. The amendment increases the maximum revolver amount from $15 million to $20 million and extends it to January 2021.

“We are pleased to expand our relationship with Bank of America as Xplore’s business continues to grow,” said Tom Wilkinson, CEO of Xplore Technologies. “Over the past year, our relationship with Bank of America has allowed us to improve working capital efficiency and streamline our balance sheet, as well as better serve our growing base of international customers.”

The facility includes features which assess certain inventory holdings as well as accounts receivable, in line with Xplore’s typical business needs.