Daily News: January 5, 2012

Graystone Capital Provides A/R Credit Line to Transportation Firm

Graystone Capital has provided a $700,000 accounts receivable line of credit to a 25-year-old perishable food/frozen food transportation company located in the greater Chicago, IL area.

“We are excited to have the opportunity to partner with such a well-respected refrigerated trucking company that transports and delivers product to nearly half the states in America. Despite the company’s voluminous amount of individual freight bills/invoices, a direct result of their extensive LTL deliveries, Graystone Capital was able to custom tailor a streamlined ABL borrowing base style of lending in order to minimize the companies reporting requirements and provide them with the necessary capital to adequately support the company funding needs,” said Kevin O’Hare, CEO of Graystone.

Graystone Capital is a privately held commercial finance company that operates as a direct lender and specializes in asset-based lending services designed to support the growth of American companies.