BRIEF-Prontoforms agrees to new $4 mln facility with Bdc Capital

Mon Aug 29, 2016 5:49pm EDT
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Aug 29 (Reuters) - Prontoforms Corp

* Prontoforms corporation agrees to new $4 million facility with bdc capital inc

* Credit facility provides for disbursement of funds in stages subject to company meeting certain conditions

* Financing agreement with bdc capital inc for $4 million five-year secured term credit facility bearing interest at fixed rate of 7% per year

* Net proceeds from credit facility to be used for operations,working capital purposes ,repay existing $1 million bdcc loan amount due december 2017

* First disbursement of $2 million is expected to be received within this fiscal quarter Source text for Eikon: Further company coverage: