Tech Capital, the asset-based finance company and wholly-owned subsidiary of Tech CU, provided a $10 million asset-based revolving line of credit to Taronis Fuels, an Arizona-based producer of renewable and socially responsible fuels.
“We believe in partnering with our clients and providing flexible lending solutions so they can pursue opportunities for growth. I’m pleased we were able to do just that for Taronis Fuels,” Joe Anzalone, managing director of Tech Capital, said. “This loan arrangement with Taronis Fuels is an excellent example of how we work to design a structure that uniquely fits the needs of our clients.”
“This loan allows us to accelerate growth by providing working capital to support our acquisition and expansion strategies,” Scott Mahoney, CEO of Taronis Fuels, said. “As an innovation leader in clean-fuel alternatives, it made sense to partner with an innovation leader in the financial industry. Tech Capital understands our mindset and our needs, and they have tailored a credit facility that will grow with us.”
