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Carrollton, Texas, December 30, 2021 (Global News Agency) – ADDvantage Technologies Group, Inc. (NASDAQ:AEY) (“ADDvantage Technologies” or “Company”) today announced that it has signed an amendment to its telecommunications and wireless business unit credit lines.
In order to meet the growing demand related to the expansion of 5-G, ADDvantage expects significant growth in the wireless sector, so it signed an accounts receivable factoring business with North America Vast Bank to increase the available borrowing capacity from US$4 million to 1300 Ten thousand dollars, but only if collateral is available. In addition, the company’s telecommunications department has a line of credit backed by accounts receivable and inventory, and its maximum available borrowing capacity is US$3 million. The result of the new agreement has increased the company’s total borrowing…
The full story on Benzinga.com
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