Excel Secured New $25 Million Term Loan Facility to Fund Acquisitions
November 03, 2016 at 12:00 am
Excel Corporation (OTCPK:EXCC) is seeking acquisitions. Excel Corporation secured a new $25 million term loan facility through Great American Capital Partners, LLC. The credit facility consists of an initial term loan of $13.5 million, with availability to borrow an additional $11.5 million during the first year of the three year term. T. A. “Kip” Hyde, Jr. Chief Executive Officer of Excel, said, “The capital will enable us to move quickly on future acquisition
opportunities, allowing us to successfully execute on our strategy of being a significant merchant acquirer in the U.S. market.”