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Amerisource Closes $2MM Facility for Oil and Gas Field Servicer

March 21, 2014, 07:22 AM
Filed Under: Energy Services

Amerisource announced that it closed and funded a $2 million revolving credit facility for an oil and gas field services provider based in Texas. Proceeds of the facility were used to refinance the company’s existing bank line and to provide additional growth capital. 

The company has experienced tremendous growth over the past several years, and its existing bank was no longer able to increase its line of credit to accommodate the increasing working capital needs. Amerisource was the ideal financing partner for this growing business.

Founded in 1984 and headquartered in Houston, TX, 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 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, portfolio acquisitions and liquidations.

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