Gas station software firm secures $5m loan
Kalibrate Technologies, an international company that provides technology solutions to retailers including gas stations and convenience stores, was granted a US$5m revolving credit facility by the United States bank PNC, according to thebusinessdesk.com.
The company’s chief executive Bob Stein said that the loan will finance business expansion and will be used for the issuance of performance bonds/letters of credit, foreign exchange facilities, potential business development opportunities, and general working capital.
The loan is for a two year term with an interest rate of 2% above London inter-bank offered rate.
