Bank of America Business Capital announced it has provided a $65 million asset-based loan to RCL Services Group, LLC and affiliates. Proceeds will be used to support working capital.
RCL Services Group, LLC is a railroad signal construction and material integration company. Founded in 1994 and based in Benbrook, TX, the company offers design, construction and signal communication services for highway-rail grade crossing warning, wayside signal, automatic interlockings, centralized traffic control, commuter rail and defect detector systems. It also supplies equipment from firms in the signal and communications industries, and offers repair and replacement services for damaged equipment.
Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than ten primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.