News
New Commercial Banking Relationship with Wachovia
ST. PETERSBURG, FLORIDA – MTS Medication Technologies today announced that it has entered into a new commercial banking relationship with Wachovia Bank, National Association. The Company will have access to a $14,000,000 reducing revolving line of credit facility for three years. The initial advance of the line of credit of approximately $9.5 million will be used to repay all of the outstanding amounts due to the Company’s current lender, LaSalle Business Credit, LLC.
Todd E. Siegel, President and Chief Executive Officer, said, “We are very pleased to begin a new relationship with Wachovia Bank. We believe the breadth of service that a financial institution of this size and stature provides will be very beneficial to our Company and our employees.”