Daily News: October 20, 2017

Capital Foundry Funding Provides $2MM L/C to Refueling Firm

Capital Foundry Funding provided a $2 million revolving line of credit to a fleet refueling company located in New York City.

The financing provides working capital necessary for the company to grow its operations.

The company provides mobile on-site digital diesel refueling for clients within the perishable food markets, beverage distributors, construction industry, emergency power companies, transportation fleets and railroads. The majority of the company’s customers are Fortune 500 companies with longstanding business relationships with the CEO.

Pittsburgh-based Capital Foundry is the parent company of CFF, established in early 2016 to provide financing and other resources to middle-market companies seeking nontraditional sources of capital.