Another Great Month for Amerisource
Release Date: 04/03/17
Another Great Month for Amerisource
Throughout March Amerisource Funding | Amerisource Business Capital announced the closing and funding of numerous new clients. A sample of which includes a software firm, an energy firm, a manufacturing firm, a transportation firm and 2 staffing firms. The deals ranged from $250,000 to $3,000,000. Amerisource is proud to support these businesses and is committed to helping the firm grow now and in the future.
$3,000,000 Facility for Software Firm
In early March, Amerisource announced the closing and funding of a $3,000,000 asset based revolver for a firm based in California. The firm, established in 2014, produces a software system that streamlines manufacturer and retailer distribution time. Following a period of rapid growth, the firm required additional funding to “kick-start” future invoices. The firm indicated that Amerisource’s competitive pricing structure and their overall understanding of the firm’s growth was vital to their decision-making process. The firm’s CFO, stated “It’s very easy to work with Amerisource. Their funding was a milestone for the company as it will allow us to grow at the rapid pace forecasted.”
$1,000,000 Facility for Energy Construction Services Firm
In mid-March, Amerisource announced the closing and funding of a $1,000,000 asset based revolver for an Oklahoma-based firm. Established over 40 years ago, the firm supplies energy services to refineries, offshore rig crane maintenance and cell phone expertise. In order to maintain their growth within the energy sector the firm required additional funding. The firm’s previous factoring company was unfamiliar with the energy sector and limited the firm’s exposure by setting a cap on advancing funds against invoices. Due to Amerisource’s energy sector experience they confidently provided the capital against the firms growing receivables. “Amerisource was able to directly impact the growth of a middle market company by leveraging its bank relationship and working with third party lender to provide exactly what our client requested. ASF is pleased to go above and by working with others in order to provide the Freedom to Grow” stated Daniel Martinez, Amerisource’s Regional Market Manager.
$250,000 Facility for IT Staffing Firm
In mid-March, Amerisource announced the closing and funding of a $250,000 asset based revolver for a Texas-based IT staffing firm. Established in 2007, the firm required additional funding to consolidate their debts with the bank and several merchant cash advance services. Lori Lemuel, Amerisource’s Regional Market Manager, stated “We won this deal based on our ability to meet the client’s needs, despite all the challenges that we faced. Our client is happy that they have avoided any further interest and penalties from the bank and MCA’s. Another great result for Amerisource!”
$300,000 Facility for Food Manufacturing Firm
In late March, Amerisource announced the closing and funding of a $300,000 asset based revolver for a firm based in upstate New York. The firm, a high-end commercial bakery selling to grocery retail chains, required additional working capital to expand the business after moving to larger premises. The firm was referred to Amerisource after their current bank could not increase their line of credit to support their cash flow needs. “We provided the client with a flexible way to obtain the needed working capital for the growth in the business while presenting the banker a solid way to have the line of credit paid off over time”, stated Andy Allaire, Amerisource’s Regional Market Manager.