09 JANUARY 2013Bizjournals.com
AloStar opens loan to Southeastern Aluminum Products Inc.
Edited by : AL CIRCLE
1 min read
AloStar Business Credit opened a $5 million line of credit to Jacksonville, Fla.-based bath enclosures and shower door maker Southeastern Aluminum Products Inc.
Atlanta-based AloStar also gave the company a $2.1 million real estate term loan.
Southeastern Aluminum Products makes custom and stock enclosures for the bathroom industry and for installation companies that target residential units and hotels across the United States
“The U.S. bathroom accessory industry is a $1.7 billion industry in which approximately 600 businesses are active,” said Andy McGhee, president of AloStar Business Credit, in a statement. “As this industry continues to grow, Southeastern Aluminum Products is in a great position to increase its business both domestically and internationally and we look forward to helping them do so.”
AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce.
Atlanta-based AloStar also gave the company a $2.1 million real estate term loan.
Southeastern Aluminum Products makes custom and stock enclosures for the bathroom industry and for installation companies that target residential units and hotels across the United States
“The U.S. bathroom accessory industry is a $1.7 billion industry in which approximately 600 businesses are active,” said Andy McGhee, president of AloStar Business Credit, in a statement. “As this industry continues to grow, Southeastern Aluminum Products is in a great position to increase its business both domestically and internationally and we look forward to helping them do so.”
AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce.
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