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Rising Bird Secures $8.2MM Credit Facility for Don Rose Oil

May 05, 2017, 07:00 AM
Filed Under: Energy

Rising Bird, Inc. announced that it has secured $8.2 million credit facility for Don Rose Oil Co., Inc. (DRO). The funds will be used to refinance existing debt with better terms, help with the expansion of DRO and support general business operations. Rising Bird worked closely with a specialized business lender to arrange a very flexible, and timely, credit facility.

"The senior credit facility and working capital will increase our capabilities to provide our customers with quality products and services at a competitive rate and will take our company to the next level in our business expansion, and position our company to acquire similar petroleum products suppliers," said John Castellucci, CEO of Don Rose Oil. “The credit facility provides greater flexibility and reduces our cost. Rising Bird took a creative approach to find us what we need for our growth. I highly recommend Ali Neesaneh to any company trying to get financing in today’s challenging economy.”

Ali Neesaneh, Founder and President of Rising Bird, Inc., also commented on the new credit facility. “It was a pleasure to work with Mr. John Castellucci and DRO’s management team during this process. I am thankful to have been given the opportunity to help DRO in their competitive market and better position them for expansion.

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