Bailey Street obtains $3 million credit facility
Provides accent furniture source with additional liquidity
Furniture Today Staff -- Furniture Today, November 6, 2009
DALLAS — Accent furniture specialist Bailey Street Holding Co. has obtained a new asset-based revolving credit facility with Boca Raton, Fla.-based First Capital.
The agreement provides for up to $3 million in revolving loans that can be used for working capital needs and other items.
Bailey Street officials said the new credit facility provides the company with additional liquidity and flexibility to grow in a difficult economic environment.
"We hear the horror stories of well-run companies struggling simply because they cannot secure a credit facility in this impossibly tight credit market," said Jim Berk, CEO of Bailey Street. "We are proud to have a strong, dependable lender with an understanding of this industry."
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