Amerisource Funds $6.5MM in Recent Credit Facilities

Amerisource Business Capital closed and funded a $4 million revolving credit facility for a natural gas compression services firm, a $1.5 million credit facility for an environmental services firm based in New York and a $1 million credit facility for a nurse staffing and software firm based in Tennessee.

The natural gas compression services firm is based in Texas.

“We worked closely with management to provide an asset-based facility that supported working capital needs, as well as the flexibility to acquire additional equipment,” Allison Billings, regional market manager for Amerisource, said. “They were great to work with during the process and we look forward to our partnership.”

“This company is supported by a respected private equity firm and we were pleased to structure a credit facility that met their needs,” Bill Herrington, executive vice president of Amerisource, said.

The environmental services firm will use the proceeds from its facility to support working capital needs and anticipated growth.

“We are pleased to welcome this new client to the Amerisource family,” Andy Allaire, regional market manager for Amerisource, said. “They have a seasoned ownership and management team, and they were great to work with putting together this facility during a very difficult time.”

The nurse staffing and software firm will use proceeds from the facility to support a significant spike in working capital needed to service hospitals that are fighting COVID-19.

“We are excited to welcome this new relationship and proud to assist a business that is helping to fight COVID-19,” Danilo Chang, regional market manager for Amerisource, said.

“This client is on the leading edge of improving the healthcare staffing model through the use of technology and we look forward to supporting their continued growth,” Herrington said.

Founded in 1984, Amerisource is a direct lender to businesses throughout the United States with borrowing needs up to $20 million. The company has provided more than $8 billion in capital to borrowers and clients through both its asset-based lending arm (Amerisource Business Capital) and A/R financing arm (Amerisource Funding).