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Amerisource Closes $3MM ABL Facility for Transportation Company

December 09, 2015, 07:49 AM
Filed Under: Transportation

Amerisource announced the closing and funding of a $3 million asset-based revolver for a transportation company in California servicing the retail industry. The company was introduced to Amerisource by its CPA. The company was previously financed by a factoring company, but was looking to increase its funding availability and lower its financing costs.

“This is another great example of how our ABL platform is benefitting a wide range of companies across the country,” said Michael Monk, managing partner of Amerisource, “With so many borrowers in the small business sector looking to unwind from higher-cost credit facilities, we have seen a huge increase in demand for our ABL product. We expect this trend to continue for the foreseeable future.”

Founded in 1984 and headquartered in Houston, Amerisource Funding 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 $15 million. Core products include asset-based lending revolvers, accounts receivable factoring, seasonal bank "over-lines", outsourced A/R, credit and collections management, debtor-in-possession ("DIP") financing, trade finance for importers, and export factoring. Amerisource also provides portfolio management and servicing for banks through its private label program America's Back-Office for Lenders and portfolio acquisitions and liquidations.

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