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Amerisource Closes $1MM Credit Facility for Coal Mining Services Company

August 02, 2016, 07:39 AM
Filed Under: Mining

Amerisource Funding announced the closing and funding of a $1 million revolving line of credit for a Pennsylvania-based company that provides services to coal mines.  Proceeds of the facility are being used to refinance an existing line of credit and equipment loans and provide additional growth capital.  The facility was needed when the company’s current equipment lender sought to reduce its overall exposure to the mining industry.  The lender referred the company to Amerisource as a solution. Amerisource’s ability to react quickly and handle a single debtor concentration resulted in a win-win-win solution for everyone.
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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