Alarm Financial Services Inc. (AFS) recently announced a four-year renewal of its senior secured credit facility with CIBC Bank USA. The amount was undisclosed. AFS provides funding programs from $150,000-$1,500,000 to small and medium-sized security, fire alarm and Personal Emergency Response System (PERS) companies. AFS began a business relationship with CIBC Bank USA in July 2017. After a four-year partnership, the bank has renewed the credit facility for another four years.

“We are extremely happy to continue our relationship with CIBC,” said Jim Wooster, president of AFS. “They have demonstrated their commitment to AFS by really getting to know our business over the years and designing a credit facility with terms and covenants that reflect what we need in a banking partner.”

The new terms of the renewal broaden the types of loan structures that AFS can now offer to alarm companies, which include true revolving lines of credit. Whereas previously all lines of credit would convert to amortizing term loans, this additional offering will benefit companies who are looking for capital, primarily for organic growth.

“At CIBC Bank USA, we provide financing solutions tailored to our customers’ needs,” said Mark Grudzien, managing director. “It has been a privilege to build the right solutions for AFS over the past four years, and we look forward to working together to continue accommodating their financial requirements through our understanding of their business, experience and expertise.”