Amerisource Continues to Perform

Release Date: 02/28/17

Amerisource Continues to Perform

Throughout February Amerisource Funding | Amerisource Business Capital announced the closing and funding of numerous new clients. A sample of which includes a Hydro-Excavating firm, Pipeline and Inspection testing firm and Transport firm. The deals ranged from $350,000 to $500,000. Amerisource is proud to support these businesses and is committed to helping the firm grow now and in the future.

$500,000 Facility for Hydro Excavating Firm
In early February Amerisource announced the closing and funding of a $500,000 asset based revolver for a Texas based Hydro Excavating firm. Established in 2015, the firm specializes in a safe alternative to potholing through the utilization of “HydroVac” trucks. The firm required additional financing in order to expand its fleet of HydroVac trucks from 4 to 12. The dealership selling these trucks referred the company to Amerisource. One of the major factors in the company’s decision-making process was Amerisource’s strong reputation. “The owner checked up on Amerisource’s reputation twice — once with his current banker and once with our competition. Both times Amerisource was enthusiastically endorsed” states Nic Wagner, Regional Market Manager at Amerisource.

$350,000 Facility for Pipeline Inspection and Testing Firm
In mid-February Amerisource announced the closing and funding of a $350,000 asset based revolver for a Louisiana based firm. Purchased in December 2016, the firm provides inspection services and personnel for pipeline projects. During a period of sales growth, the firm required additional funding in order to fulfill its working capital needs. After its existing bank was unable to provide a solution, the company’s situation was brought to Amerisource’s attention by a referral partner from a specialty finance company with whom Amerisource regularly interacts. The contributing factors in the firms decision-making process were Amerisource’s speed of response and competitive interest rate. “Amerisource was able to underwrite, approve and provide funding within a very rapid time frame. Our facility will help fuel the client’s financing requirements for growth and ongoing working capital needs” states Allison Billings, Amerisource’s Regional Market Manager.

$500,000 Facility for Transportation Firm
In late February, Amerisource announced the closing and funding of a $500,000 asset based revolver for a North Carolina based transportation firm. Established in 2006, the firm required additional working capital after the purchase of additional trucks. The referral came from a former Amerisource client. Contributing factors in the firm’s decision-making process included Amerisource’s lack of a contract term or monthly minimums, and its competitive interest rate. “The client’s growth rate, recent addition of new trucks, and increase in insurance rates resulted in tight cash flow. The Amerisource revolver gives the client immediate access to funds to finance its growth and working capital needs” stated Allison Billings, Amerisource’s Regional Market Manager.