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Marquette Business Credit Funds $16MM Facility to Oilfield Steel Supply

September 16, 2015, 07:51 AM
Filed Under: Energy Services

Marquette Business Credit announced it recently funded a $16 milion credit facility to Oilfield Steel Supply, LLC (“OSS”).  Based out of Magnolia, Texas, OSS delivers high quality raw materials to the Oilfield Equipment Manufacturing industry. This transaction was originated by Andrew Burgess, a SVP at Marquette’s Dallas office.

Nick Jones, CEO of Oilfield Steel Supply, LLC., was quoted as saying: "Our search for growth financing in a very tight market ended when we met with Marquette. Their team clearly understood the unique requirements a business like ours has and offered a highly effective and creative solution to meet those needs." 

The secured facility consists of a $15.0 million revolving line of credit plus an additional $1.0 million equipment term loan and capital expenditure line.  This new facility offered by Marquette will provide OSS with the working capital needed to refinance their existing lines and provide additional capital to meet their business growth expectations. 

Marquette Business Credit provides Asset Based loans to middle-market U.S.-based companies with credit requirements from $2 million to $25 million.

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