Printer Friendly

AG SERVICES OF AMERICA, INC. NOTIFIED OF $45 MILLION BANK LINE OF CREDIT

 CEDAR RAPIDS, Iowa, March 4 /PRNewswire/ -- Pursuant to its Business Plan and subsequent request, Ag Services of America, Inc. (NASDAQ: AGSV) has been notified of approval of an increase in its bank line of credit to $45 million for the fiscal year ended Feb. 28, 1994. This represents a 32.4 percent increase from the $34 million of a year ago.
 Four banks are participating in the credit facility, including Norwest Bank Iowa, N.A., Rabobank Nederland, and two new banks, Diawa Bank and the National Bank of Detroit.
 Management is very pleased with the increased line of credit. This increase will allow the company to attain its growth objectives for fiscal 1994.
 Ag Services of America, Inc. supplies farm inputs including seed, fertilizer, agricultural chemicals, crop insurance, and cash advances for land rent, fuel, and irrigation to farmers primarily in the central United States.
 -0- 3/4/93
 /CONTACT: Brad Schlotfeldt of Ag Services of America, 319-277-0261/
 (AGSV)


CO: Ag Services of America, Inc. ST: Iowa IN: AGR SU:

AL -- MN015 -- 3107 03/04/93 15:46 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 4, 1993
Words:179
Previous Article:CYPRUS COPPER APPOINTS ROBIN HICKSON AS SENIOR VICE PRESIDENT
Next Article:FIRST BANK PROVIDES $2.5 MILLION REVOLVING LINE OF CREDIT FOR GMMHC TO BUILD OR REHAB HOUSES IN MINNEAPOLIS FOR LOW-TO-MODERATE INCOME FAMILIES
Topics:


Related Articles
AG SERVICES OF AMERICA, INC. NOTIFIED OF 45 PERCENT INCREASE IN BANK LINE OF CREDIT
AG SERVICES OF AMERICA NOTIFIED OF $5 MILLION INCREASE IN BANK LINE OF CREDIT
AG SERVICES OF AMERICA NOTIFIED OF $52 MILLION BANK LINE OF CREDIT
AG SERVICES OF AMERICA, INC. ANNOUNCES THIRD QUARTER RESULTS
AG SERVICES OF AMERICA, INC. NOTIFIED OF INCREASE IN BANK LINES OF CREDIT TO $72 MILLION
Ag Services of America, Inc. Announces $135 Million Asset Backed Securitization Program
Ag Services of America Announces Eleventh Consecutive Year of Record Revenue and Earnings for Fiscal 1999.
Ag Services of America Expands Powerfarm.com(TM) to Include Short-Line Equipment Parts.
Ag Services Of America, Inc. Enters Into New $30 Million Credit Agreement.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters