Recent Deal Highlights: $100,000 Security & Investigation Firm and $1,250,000 Commercial Printer
Release date: December 16, 2010
Amerisource is pleased to announce it closed and funded 14 new client relationships in September and October. This brings Amerisource’s year-to-date total funded new commitments to just over $51 million. Details on some of these new clients can be found below.
Referral Source: Company’s Banker
- Security and investigation firm founded in 2004
- Company recently obtained two new customers, requiring additional working capital
- Company’s existing lender was unable to increase line, as the bank was looking to exit the C&I lending market altogether
- Company was referred to Amerisource due to refinance the bank and provide additional working capital for the Company’s new customers
Approval Period: 1 business days, additional 3 to fund
Result: Amerisource was brought in to refinance this Company’s bank and provide a stable source of working capital to the Company as it pursued its growth plans. The initial line required was only $100,000, and it Amerisource issued formal approval within one business day. And with Amerisource’s true “floating” credit limit, the Company is in a position to service its two new customers and grow its business. Now that’s security!
Referral Source: Company’s Consultant
- Commercial printing company; in business since 1969
- Company experienced losses over the past few years
- Significant (80%) customer concentration
- Company’s bank asked them to find alternate financing and tightened availability, constricting the Company’s ability to operate
Approval Period: 7 business days, additional 6 to fund
Result: Hot off the press! Amerisource approved a financing structure to accommodate the Company’s customer concentration and mitigate the Company’s recent losses. The Company’s consultant brought Amerisource into the deal and assisted with the transition and refinance of the Company’s bank line. And now the Company is cranking up those printing presses again!
Jaylene Cyr (713) 863 8300 Ext. 239