Connecting to LinkedIn...

Blank

General Employment Enterprises, Inc. Announces A New Long-term Credit Facility

General Employment Enterprises, Inc. Announces A  New Long-term Credit Facility

General Employment Enterprises, Inc has  announced that it has secured a revolving credit facility from Keltic Financial Partners II LP ("Keltic") in the amount of six million dollars ($6,000,000).

Michael Schroering, Chief Executive Officer of General Employment Enterprises, Inc. commented, "We are excited about 2014 and the opportunities for growth ahead of us. With this financing in place, it will allow us to continue focusing on the expansion of our Company."

Andrew J. Norstrud, Chief Financial Officer of General Employment Enterprises, Inc., commented, "This agreement will enable us to extinguish the debt currently outstanding with Wells Fargo, and give us the necessary capital for 2013 and beyond. Keltic has a proven track record of working with companies they invest in and we look forward to making this a great partnership."

General Employment Enterprises, Inc. will use the proceeds from the note to extinguish the outstanding debt with Wells Fargo, as well as for working capital and investments in the development of the sales and marketing department.

Tags:

Articles similar to

Articles similar to