CHDT Corp. (OTCBB: CHDO) announced this morning that its wholly owned subsidiary, Capstone Industries, has secured a conventional $2,000,000 asset-based line of credit from Sterling National Bank. The company has been negotiating with several different lenders over the past six months. CHDT choose Sterling Bank because of its funding structure. One of the advantages of this loan is that CHDT can increase its credit as accounts receivables and inventories grow.
“We are pleased to have the opportunity to embark on a business relationship with a bank that is focused on asset based lending and is experienced with our retailers and their payment cycles. We look forward to working and growing our business with Sterling National Bank;a bank that has been asset based lending since 1929. It was important for our company to find a funding partner that can grow as we grow,” said Howard Ullman, Chairman of CHDT Corp.
CHDT Corp. is a management company, providing services and taking an active role in the management and direction of businesses. The company has a broad range of business expertise in several different industries. The most common departments in need of services are corporate level human resources, financial services, accounting services, legal services, budgetary control, marketing support, information technology, and systems support. By providing these services, corporations can focus on planned revenue growth.
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