Recent Deal Highlights: $100,000 Security & Investigation Firm and $1,250,000 Commercial Printer
Release date: 12/16/2010
December 16, 2010 — Houston, TX – 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.
September 2010
$100,000
Security & Investigation Firm
A/R Finance Facility
Texas
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Referral Source
Situation
- 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
- One business day; additional three days to fund
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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!
October 2010
$1,250,000
Commercial Printing Company
A/R Finance Facility
Virginia
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Referral Source
Situation
- 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
- Seven business days; additional six days to fund
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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!
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Founded in 1984 and headquartered in Houston, Texas, Amerisource is one of the largest and fastest-growing independent commercial finance companies in the country. Amerisource provides working capital financing and outsourced receivables management to small and middle market companies with financing needs from $50,000 to $10,000,000. Core products include asset-based lending revolvers, accounts receivable factoring, seasonal bank "over-lines", outsourced A/R, credit and collections management, debtor-in-possession ("DIP") financing, trade finance for importers, and export factoring. Amerisource also provides portfolio management and servicing for banks through its private label program America's Back-Office for Lenders (TM) and portfolio acquisitions and liquidations.