Educational Development Corporation (EDC) renewed its line of credit with its lender, MidFirst Bank, for another year with a maximum revolving principal amount of $10 million.

“I am pleased to announce that we have renewed our line of credit with our lender for another year,” Randall White, CEO of Educational Development Corporation, said. “Due to our recent growth, we have generated increased cash flows from operations. We ended the month of July 2020 with no borrowings on the line of credit and over $23.3 million in cash on our balance sheet. In addition, we expect our cash balances to remain strong through the fall as we experience continued growth in our UBAM division. UBAM sales are primarily generated through prepaid e-commerce orders which have a positive impact on cash flows. Having this line of credit provides additional security as we are purchasing increased inventory volumes to keep up with our recent sales growth.”

EDC is a publishing company specializing in books for children.