Amerisource announced the closing and funding of a $2 million A/R factoring facility for a defense contractor supplying electronic components in upstate New York.

New ownership was recently brought in to recapitalize the company, as it had struggled through the economic crisis.  The company’s consultant brought in Amerisource to provide a flexible working capital solution during the transition period.
 
“We were pleased to be an integral part of the recapitalization,” said Andy Allaire, regional market manager for Amerisource.  “The new ownership realized that having appropriate levels of liquidity in place from day one was a critical component of the turnaround.”
 
Founded in 1984 and headquartered in Houston, TX, Amerisource is an independent commercial finance companies in the country.