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Amerisource Closes $6MM ABL Facility for BaronHR, Inc.

September 24, 2013, 07:28 AM
Filed Under: Staffing Services

Amerisource announced that its ABL division, Amerisource Business Capital, closed and funded a $6 million revolving credit facility for BaronHR, Inc., a nationwide staffing company based in Delaware.  The company had previously been factoring its accounts receivable with a lender in the Midwest.  Proceeds of Amerisource’s new line of credit were used to refinance the company’s factoring obligations and provide additional growth capital.

“Amerisource Funding has been a true blessing.” Said Lou E. Perez, CEO of BaronHR, Inc, “From start to finish, all employees and upper management have been great to work with and very responsive to getting things done in a fast and accurate manner. I highly recommend them!”

“We are delighted to welcome BaronHR to the Amerisource family”, said Michael Monk, managing partner of Amerisource Business Capital.  “Lou has built a great brand in his industry, and we look forward to helping his business achieve further success.”

Founded in 1984 and headquartered in Houston, Texas, Amerisource 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 $10,000,000.  Core products include asset-based lending revolvers, accounts receivable factoring, seasonal bank "over-lines", outsourced A/R, credit and collections management.

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