Jim Wooster, CEO at AFS, says new capital will allow the company to expand its loan program.
Alarm Financial Services Inc. (AFS) secured a new revolving credit facility with RBS Citizens, N.A. This facility increases the debt funding available to AFS by more than 50 percent. The Edmonds Group represented AFS in the transaction.
“We are very pleased to be entering this new partnership with RBS Citizens, N.A. for a significantly larger debt facility. The new facility will allow us to continue our 25 year track record as a leading funding source for alarm dealers,” said James F. Wooster, chief executive officer of AFS. “The increased access to capital enables us to keep growing our funding business and expand our loan program. The loan program has been very popular since we began it in 2006.”
“AFS has a strong management team with deep experience the alarm industry. It is a tribute to AFS that a leading industry lender like RBS Citizens, N.A. is willing to provide them with a significant new facility,” said Henry Edmonds, founder and president of The Edmonds Group.
“We at AFS appreciate the way that The Edmonds Group helped us to identify our key goals, found us the best bank partner, and worked through all the details to ensure that the deal closed in a timely manner,” said Wooster.