EPSG, an integrator of merchant payment technology solutions, expanded its existing revolving line of credit with People’s United, a division of M&T Bank.
Expansion of the credit facility includes an increase to the existing revolving line of credit along with a sublimit to term out any new capital expenditures over the next 12 months. A separate facility was added to convert a portion of the existing line of credit into a term loan, effectively doubling EPSG’s total available credit.
“M&T has been a critical partner during our technological development and business expansion, including the build-out of the company’s new state-of-the-art network operations center,” Matthew Byron, president and COO of EPSG, said. “2021 was a record setting year for the company, and thanks to M&T, the company expects continued record-setting growth into 2022 and beyond.”
“We are thrilled to have a partner like M&T who understands our business and vision for the future,” Travis J. Mottet, interim CFO of EPSG, said. “Expansion of the credit facility aligns perfectly with the company’s focus on our mobile platform development, and the added liquidity will allow the company to scale operations at a much faster pace than before. We look forward to continuing this relationship for years to come.”
