Recent Deal Highlights: $100,000 Sports Apparel Distributor, $2,500,000 Concrete Manufacturer
Release date: March 31, 2010
Amerisource is pleased to announce it closed and funded 12 new client relationships in January and February 2010. This brings Amerisource’s total 2010 funded new commitments to just over $21 million.
Here are highlights of two of these new clients:
SPORTS APPAREL DISTRIBUTOR IN NOVA SCOTIA – JANUARY 2010
Referral Source: Company’s Consultant
Situation
- Importer/distributor of sports apparel; start-up in 2009
- Experienced management team in place
- Canadian customers
- Growing business, with immediate working capital needs
Approval Period: 5 business days, additional 4 to fund
Result: With Amerisource’s A/R finance line in place, the Company can now pursue its expansion opportunities and is “back in the game”!
CONCRETE MANUFACTURER IN NEVADA – FEBRUARY 2010
Referral Source: Company’s Consultant
Situation
- Concrete company; in business since 2007
- Due to downturn of construction industry, Company looking to streamline its operation and improve its risk management, by outsourcing A/R, credit and collection functions
- Company also looking for working capital to finance seasonal cash flow needs
- Account debtors in the construction industry, making credit coverage challenging
- Very diverse customer base, and 50 days average A/R turn
Approval Period: 14 business days, additional 8 to fund
Result: Amerisource was able to provide a line of credit for the Company, as well as support the Company’s A/R, credit and collection functions. Amerisource addressed the industry risk with conservative formula-based advances. With the improved working capital and risk profile, the Company is now better positioned to weather the storm.
Contact:
Marilyn Davis (713) 863 8300 Ext. 243
mdavis@amerisource.us.com