Home Source gets $8.25 Mil Funding
Casual Living Staff -- Casual Living, March 18, 2013
Chicago - Cole Taylor Business Capital, a division of Cole Taylor Bank, has announced the funding of an $8.25 million facility for manufacturer Home Source International.
In addition to bedding and bath, Home Source also produces furniture and lighting through its Shiner International division and has opened a U.S. factory in Florida.
Proceeds of the facility will be used to refinance the company's existing debt and to fund ongoing working capital.
Home Source International ceo Keith Sorgeloos said the new banking facility "provides us the wherewithal to fund our USA manufacturing facility and other strategic objectives moving forward and it allows for the deal to service our needs as a closely held company with the people who own and manage it. And as such, the fit is terrific."