Viemed Healthcare, a durable medical equipment supplier, entered into a two-year commercial business loan agreement for term loans and lines of credit for up to $5 million.
The agreement with Whitney Bank, a Mississippi state-chartered bank, will carry an interest rate that is based on one month ICE LIBOR plus 3.00% per annum from date of advance until paid and any amounts advanced will be secured by substantially all of the company’s assets.
“While we currently have no immediate need to draw on this facility, it provides Viemed with liquidity and flexibility giving us quick access to non-dilutive capital should we need to bridge any working capital requirements during a period of significant growth for our company,” said Casey Hoyt, Viemed CEO.
