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Amerisource Closes $4MM Facility for Regional Transportation Company

September 26, 2014, 07:49 AM
Filed Under: Transportation

Amerisource Capital, the ABL division of Amerisource, announced the closing and funding of a $4 million asset-based loan working capital revolver, secured by accounts receivable, for a regional trucking company based in Connecticut. 

For several decades, the company has served the Northeast with award-winning freight and logistics services.  In recent years, the company relied on internal cash from operations to expand and acquire new trucks and equipment, which has strained cash and resulted in working capital shortages. 

“Transportation is a very important industry for Amerisource,” said Michael Monk, Managing Director.  “We have decades of experience providing working capital to small and large fleets across the country, and I’m delighted that we were able to assist this company in continuing its growth objectives.”

Working in conjunction with an SBA lender providing term financing for the company’s fleet, Amerisource was able to refinance the company’s prior bank and provide an additional capital injection to meet the company’s working capital needs.

Founded in 1984 and headquartered in Houston, Texas, Amerisource is one of the largest and fastest-growing independent commercial finance companies in the country. Amerisource provides working capital financing and outsourced receivables management to small and middle market companies with financing needs from $50,000 to $10 million.

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