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Amerisource Closes $1.25MM Facility for Oil & Gas Parts Manufacturer

May 03, 2016, 08:02 AM
Filed Under: Manufacturing

Amerisource announced the closing and funding of a $1.25 million credit facility for a parts manufacturer in the oil & gas industry in Nevada.  Proceeds of the credit facility were used to refinance the company’s existing bank debt and to provide additional working capital for growth. 

The company needed a larger line of credit to facilitate its continued growth.  The company was referred to Amerisource by its consultant when the company’s bank was unable to accommodate the increased credit line request due to general financial stress in the oil and gas industry.

Founded in 1984 and headquartered in Houston, TX, Amerisource Funding 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 $15 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.

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