American Resources sets up asset-backed credit line for $15 million

Chicago, Aug. 22 – American Resources Corp. announced that subsidiary American Carbon LLC expanded a non-dilutive asset-backed credit line of $15 million that can be drawn for growth initiatives, according to a press release and an 8-K filing with the Securities and Exchange Commission.

The credit facility is secured by certain equipment of the American Carbon division.

The existing lender is Maxus Capital Group.

The equipment loan allows the company to draw up to $15 million and carries a 36-month term.

The effective interest rate is expected to be 14.48% over the term of the loan.

American Resources is a supplier of high-quality raw materials to the new infrastructure market. The company is based in Fishers, Inc.

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