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Bank of America Expands Credit Facility for Xplore Technologies

January 29, 2018, 07:22 AM
Filed Under: Technology

Xplore Technologies, a provider of rugged tablet PCs, announced that it has entered into an amendment to its secured line of credit with Bank of America increasing the maximum revolver amount to $20 million. The original facility was entered into in April 2017 for $15 million. Additionally, the facility has been extended to January 2021. 

“We are pleased to expand our relationship with Bank of America as Xplore’s business continues to grow,” said Tom Wilkinson, Chief Executive Officer of Xplore Technologies. “Over the past year, our relationship with Bank of America has allowed us to improve working capital efficiency and streamline our balance sheet, as well as better serve our growing base of international customers.” 

The facility includes features which assess certain inventory holdings as well as accounts receivable, in line with Xplore’s typical business needs.

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