AEY - ADDvantage Technologies renegotiates credit lines for Telco Wireless segments

ADDvantage Technologies Group (NASDAQ:AEY) has further expanded the credit line for its Telco and Wireless business segments in hopes of accelerating growth for both 5G and Telco. The company converted its collateralized line of credit for its Telco segment to a factoring line, similar to the Wireless factoring line, all with Vast Bank, N.A. As a result, it will be able to borrow up to $9M against Nave receivables and $1.5M against Triton receivables, replacing the existing line of credit which will be paid off. The existing Fulton factoring line has been restructured, reducing borrowing capacity but on more favorable terms related to customer diversity. The overall borrowing capacity will therefore increase from $16M to $19M.

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ADDvantage Technologies renegotiates credit lines for Telco, Wireless segments