Amerisource Completes $1,500,000 Credit Facility for Sportswear Apparel Retailer

Release date: January 9, 2018

Amerisource Completes $1,500,000 Credit Facility for Sportswear Apparel Retailer
We are delighted to announce the closing and funding of a $1,500,000 credit facility for a specialty apparel retailer of sports jackets, activity jackets, and safety wear based in New York. The company was introduced to us by its financial consultant. Proceeds of the facility were used to refinance the existing bank revolver and to provide additional working capital to support sales growth. The line is secured by the company’s assets with availability against accounts receivable and inventory.

Our Market Manager, Andy Allaire, stated:

“We enjoyed working with the company and its consultant, and we’re pleased we could achieve their objective of closing both the A/R and inventory lines in just 20 days. The company has a strong management team and an excellent reputation in its market, and we look forward to working with them as their business moves to the next level.”

About Amerisource Funding | Amerisource Business Capital
Amerisource is one of the largest independent finance companies in the nation, having provided over $7 billion in capital to borrowers and clients through both its asset based lending arm (Amerisource Business Capital) and its A/R financing arm (Amerisource Funding). Amerisource prides itself on outstanding client service and boasts an industry-best client retention rate in excess of 50 months. Amerisource Funding has offices located throughout the United States.