Solar equipment manufacturer Spire Corporation expands revolving credit facility
26th June 2009
Spire Corporation, a solar equipment manufacturer, has amended its current revolving credit facility with Silicon Valley Bank.
In addition to the amended $3m, the company has added an additional $5m revolver under an export-import credit facility which is supported by a guarantee from the Export-Import Bank of the United States.
In total, the company will have availability of up to $8m over the next year.
Roger G Little, CEO of Spire Corporation, said, ‘We are pleased to receive these credit facilities, which improve our liquidity to support our growth. Silicon Valley Bank has been a good financial partner. Even with the tough banking environment, we were also able to increase the loan availability with the assistance of the guarantee offered by Ex-Im Bank.’
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