Amerisource Funding announced the closing and funding of a $2.5 million line of credit for a food distributor in Ohio.  Proceeds of the credit facility were used to refinance the company’s existing bank debt and to provide additional working capital for growth.

The company is a regional distributor of food and supplies for the healthcare industry. The company has served hospitals, nursing homes and clinics throughout the Midwest and Northeast for over three decades. Coming off two years of losses, the company’s bank recommended they seek alternative financing.

The company’s consultant referred the company to Amerisource to provide working capital financing and to an SBA lender for its term financing needs. 

“This client has a great story and track record, and we are thrilled to welcome them to the Amerisource family,” said Andy Allaire, Regional Market Manager for Amerisource. “Our network of referral partners extends coast to coast, and we have built a reputation for understanding our clients and moving quickly to provide solutions.”

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 million.