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Thermo Credit Provides A/R Financing to River Bend Geo Services

December 17, 2013, 07:18 AM
Filed Under: Energy Services

Thermo Credit, LLC announced it has provided $1 million in accounts receivable financing to Texas based River Bend Geo Services, LLC.

Seth Block, Executive Vice President of Thermo Credit commented, “We are pleased to provide this facility to River Bend. Their service is on the cutting edge of the water treatment industry and I have enjoyed the opportunity to work with the River Bend team.”

River Bend Geo offers a modern solution to the bacterial contamination of oil and gas wells and the company plans to use the additional funds for increased operating cash flow and growth. CEO Ron Hughes stated, “Thermo Credit’s revolving facility will allow us to capitalize on an incredible year of growth by providing River Bend with the ability to move even faster. I like to characterize it as pouring gasoline on raging fire.”

The facility will be funded by Thermo Credit’s lending partner, Thermo Communications Funding, LLC.

Thermo Credit is a privately held funding company that provides asset based loans, accounts receivable financing and factoring services. Specializing in the communications industry, Thermo Credit serves established, well-run companies that need capital to expand their business, improve operations or fund an acquisition.

River Bend Geo Services, LLC is a group of oil and gas professionals with a rich and tenured history in pipeline construction, municipal water treatment construction, water sourcing, water transfer, and chlorine dioxide water treatment.

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