Global Merchant Fund, Corp., announced the funding of a cross border $3,500,000 ABL credit facility to a service provider in the oilfield industry. The Company has operations and services customers in Canada and the USA with head office in Edmonton, Alberta and regional offices in Pennsylvania and Texas. The Global Merchant Fund, Corp. credit facility replaced the existing major bank in Canada by providing the Company with C$ and US$ credit facility supporting Company operations and customers on both sides of the border. Global Merchant Fund, Corp. cross border facility helps the Company with improved liquidity by almost doubling the credit facility allowing the company to continue to grow its business across Canada and the USA in a profitable manner. The Company is well established industry leader in the water & vacuum services serving customers in the oilfield, specific to Steam-assisted gravity drainage (SAGD) operations, plant-work & winter core-hole programs, 24/7 service provided by its shop/field mechanics across the USA and Canada.
Karim Habib, Global Merchant Fund, Corp. Managing Director, Canada said, “closing this transaction validates our position in supporting small & medium size companies with their growth opportunities across North America, as we continue to build our presence. In this competitive financing market place, it is imperative for us to deliver value added, competitively priced and well-structured working capital solutions, while delivering financial solutions to our clients and professionals who rely on our ability to execute in a timely manner.” Each credit facility is designed to meet the individual needs of the company’s business, taking into consideration specifics such as cross border financing, trade cycles, seasonality, customer base and more. Flexibility is what makes Global Merchant Fund, Corp. unique and its ability to finance domestic and international accounts for USA and Canadian based companies.
Founded in 2006, Global Merchant Fund, Corp. is a provider of domestic and international financing solutions for growing mid-sized businesses across a wide variety of industries and geographic locations. Global Merchant Fund, Corp. helps clients succeed through their supply chain finance, factoring, purchase order and asset-based lending programs with a focus on international trade. Global Merchant Fund, Corp. has principal operations in Toronto, Canada, Miami, FL, and New York, NY.
For more details, please contact Steve McDonald, President ofGlobal Merchant Fund, Corp.