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Amerisource Provides April Funding Update

April 28, 2017, 07:00 AM
Filed Under: Industry News

Throughout April, Amerisource Funding, and Amerisource Business Capital announced the closing and funding of numerous new clients. A sample of which includes a Telecommunications firm, a Business and Marketing support firm and an industrial coatings firm. Amerisource is proud to support these businesses and is committed to helping them grow now and in the future.

  • $500,000 Facility for Telecommunications Firm In early April, Amerisource announced the closing and funding of a $500,000 asset based revolver. The Arizona-based start-up firm, provides support to the major telecommunications companies by directing the overflow calls into their call centers. As a new business entity, the firm needed faster access to operating capital. Amerisource was able to offer the client start-up capital to get their business up and running. “Being able to help and support a business, like this start-up, and giving them the “Freedom to Grow” really is what Amerisource Funding is all about” says Tyler Wible, Amerisource’s Regional Market Manager.
  • $500,000 Facility for Outsourced Business Support Firm In mid-April, Amerisource announced the closing and funding of a $500,000 asset based revolver for a New York-based firm. Established in 2007, the firm provides outsourced Business and Marketing support to Fortune 500 companies. Their services include telemarketing, lead generations, appointment setting and call center support. After experiencing growth, the firm’s banker realized that traditional bank funding could not support their growth due to balance sheet leverage. Having dealt with other finance companies in the past, the firm realized that Amerisource’s flexibility would provide the best funding solution. Amerisource’s Regional Market Manager, Andy Allaire states “The firm was looking for quick turnaround to fund expanding sales. Their banker recommended Amerisource to them due to our flexibility. We are happy to see the company thriving with the access to cash flow”.
  • $500,000 Facility for Industrial Coatings Firm In late-April, Amerisource announced the closing and funding of a $500,000 asset based revolver for a Texas-based firm. Established in 2015, the firm applies industrial coatings to various metal applications (usually pipes) used in the Oil and Gas industry. The firm was in a downturn environment, but began to grow in Q4 of 2014. They then experienced a need for increased cash flow, but were unable to obtain a bank loan due to the industry risks and declining revenues. However, Amerisource was able to provide the required working capital to support the firm’s increasing payroll demands. The firm’s key-decision makers in this instance were Amerisource’s excellent customer service and attention to detail. “This client was referred to Amerisource thanks to a growing relationship with one of Houston’s top four banks. The firm was growing rapidly so the banker was unable to extend a credit facility to meet their increasing payroll needs. They involved Amerisource because we were able to structure a working capital facility that met their exact needs. This was a difficult transaction, but thanks to our levels of “customization” we were able to fund their growth. This then allowed the business to rapidly increase their revenues.” states Daniel Martinez, Amerisource’s Regional Market Manager.


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