Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Michigan-based manufacturer and distributor of component parts for heavy equipment.  Proceeds of the facility were used to refinance existing bank debt and to provide growth capital.

Andy Allaire, Market Manager for Amerisource, stated: “This client has a very long operating history.  The Company recently made investments to accelerate growth, resulting in interim losses.  Amerisource was brought in by the Company’s banker as a financing solution during this period of growth.  We were thrilled to work with this owner and very seasoned management team, as well as to provide a solution for the bank, and we look forward to our continued partnership.”