Bedford, OH-based The Federal Metal Company entered into a $13 million asset-based lending (ABL) agreement with Wells Fargo Capital Finance.

The revolving credit facility has a four-year maturity date extending to June 6, 2020.

The Federal Metal Co. is a brass and bronze ingot manufacturer and a trader of nonferrous metals.

“We are extremely pleased to work with Wells Fargo,” said Peter Nagusky, president of Federal Metal. “They have deep experience in the metals sector and understand our financing needs.”

He continued, “The new credit facility, combined with other recent initiatives, will significantly improve our liquidity and provide the working capital we need to achieve our corporate objectives.”

Steve Linderman, senior vice president at Wells Fargo Capital Finance, said, “We are pleased to have been able to complete such an important financing for The Federal Metal Co. It is important to Wells Fargo to provide our customers with the financial flexibility and financial services they need to succeed. We look forward to supporting their plans for successful business growth.”