Amerisource Funds $10,000,000 – Energy Services Firm

Release date: October 11, 2017

Amerisource Funds $10,000,000 – Energy Services Firm

In October 2017, Amerisource Funding | Amerisource Business Capital announced the closing and funding of a $10,000,000 asset based revolver for an energy services firm. Established in 2005, headquartered in Texas, the firm has operations in Canada, Mexico, India, Saudi Arabia and U.S.

The firm was seeking a line of credit with a large national bank, but because they operate within the Energy sector, they found it challenging to obtain the necessary funds. Following a referral, Amerisource was able to extend $10 million in availability to aid the continued growth of their business. The referring bank was able to open a new relationship, which resulted in substantial deposits. It also saved the firm several thousand dollars in Treasury Management fees over the course of a year.

Daniel Martinez, Amerisource’s Market Manager, stated:

“Amerisource was able to provide an effective solution and ensure that the firm had the working capital that they required.”