Tomco-Harwel Industries Inc. (THI) expanded its business by purchasing Summit Industries.
The acquisition of Summit was an opportunity for growth, but the transition also caused significant financial challenges. In 2008, THI began working on a refinance through the Indian Loan Guarantee and Insurance Program (ILGP) program. As a result, THI was able to gain a larger line of credit, a better rate and term, and manageable payments without fees.
Date of Commitment: 2008
Type of Service: Loan Guarantee
Lender: Local Bank
Borrower: Company Owners
Project: Industrial and Janitorial Supply Company
Financing Amount: $1,200,000
Location: Tulsa, OK
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Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
Washington, DC 20240
