American Bio Medica secures $1.5M credit line - South Florida Business Journal:

http://www.rowrug.com/authors/author-287.html
The 3-year agreement with New York City-based provideas American Bio Medica ABMC) with a $1.5 million revolving line of This line replaces one ofthe Kinderhook, N.Y. drug-tesft kit manufacturer’s previous credit facilities with . That line was for up to About $650,000 of the proceeds from the new line have been used to repagyFirst Niagara, which is based in Lockport, N.Y. The rest will be used to providde American Bio Medica with increased liquidity for generalcorporatse purposes, including working capital.
“Give n the current status of thefinancial markets, we are please with the completion of this refinancing, and we appreciate the supportg provided by Rosenthal and Rosenthal, enabling us to increaser the size of our line of credift facility,” said Stan Cipkowski, CEO of Americam Bio Medica. “The additional borrowing capacity will provid the company with access to capital resources enablinhg us to weather these difficult economic as well as providee resources for our anticipated growth in theeventuak recovery.” He said the company now will focus on obtaininh new loans to replace its current term note and real estate mortgag e with First Niagara.
Those credits total about $1