LSQ, a provider of working capital finance and payments solutions, expanded its relationship with Wilson Creek Energy by originating a $15 million credit facility for the Pennsylvania-based metallurgical coal producer.
The company will use the additional capital to expand its operations and take on new clients.
As part of the solution, LSQ will also provide Wilson Creek with comprehensive accounts receivable and credit management to help better manage repayment risk and monitor customer health.
The relationship with LSQ is not a new one for Wilson Creek; it has been a participating supplier in a supply chain finance program sponsored by one of its large steel manufacturing customers.
“We have been using FastTrack for some time now, it has been easy to use and has given us much greater control over our cash flow,” Dan Bonacci, interim CFO at Wilson Creek, said. “As we are looking to grow our business outside of the one customer’s supply chain finance program, LSQ was a natural fit because we have had success working with them in the past.”
“Over the last few years, we have gotten to know the team at Wilson Creek and it is rewarding to grow our relationship with them as their business grows,” DJ Krystopa, regional vice president at LSQ, said. “Earning and maintaining the trust of our clients is important and we are proud that Wilson Creek has chosen to deepen their partnership with us.”
