05.13.10 / News
PLI Renews $750,000 Credit Facility
Phoenix Logistics (PLI) is pleased to announce the renewal of its Operating Line of Credit with First Fidelity Bank. The $750,000 credit facility was renewed at more favorable terms and reduced costs. During a time when banks are very careful to extend loans, the renewal is a testament to PLI’s financial performance and strength according to Scot Neville, the company’s Chief Financial Officer. “Although we rarely have a need to utilize the LOC due to our outstanding cash management efforts, it’s a valuable resource that enables us to take quick advantage of strategic inventory purchases or business opportunities. We can also quickly financially respond to any surge in production levels” says Neville.