Amerisource Business Capital closed and funded a $1 million credit facility for a precision parts design and manufacturing company based in New York.

The company was recently acquired by a private equity firm, and proceeds of the new facility will be used for additional growth capital.

Andy Allaire, regional market manager for Amerisource, commented, “We are excited to welcome this new relationship. The new ownership has a solid track record in acquiring and growing their portfolio companies. Amerisource is pleased to be in a position to provide the needed growth capital.”

Amerisource is one of the largest independent finance companies in the nation, having provided over $7 billion in capital to borrowers and clients through both its asset-based lending arm (Amerisource Business Capital) and its A/R financing arm (Amerisource Funding). Amerisource has offices located throughout the United States.