Federal National Commercial Credit closed a $2 million asset-based line of credit to a Southern California-based IT services company.

The 28-year-old company was seeking to replace its existing bank line of credit with a new line that will provide additional flexibility. The new credit facility provides a sub-limit for advances against earned but unbilled accounts receivable.

Federal National Commercial Credit provides working capital financing for small and medium-sized sized businesses in a wide range of industries.