NEW ORLEANS, LA – January 22, 2019 – Asset based lender Thermo Credit, Inc. has provided a $2,000,000 factoring facility to 15 Rivers Ready Mix, LLC.
The financing will be used as working capital to expand the newly launched cement manufacturing and distribution company, located near Dallas, TX.
15 Rivers CEO Lamar Carter stated, “15 Rivers Ready Mix is one of the newest entrants into the North Texas concrete market in 2019. Our team is very excited to have Thermo Credit provide the company with the perfect funding facility. This funding facility will assist 15 Rivers in achieving all of our growth goals for Dallas, Rockwall, Kaufman and Ellis counties in North Texas. Seth Block of Thermo Credit has provided extraordinary business acumen by taking the time and effort to understand the financial operations of a 21st century ready-mix operation. We believe that 15 Rivers and Thermo Credit will continue to thrive together for years to come.”
Seth Block, Executive Vice President of Thermo Credit commented, “We are expecting great things from Lamar and his team. There is wonderful opportunity in this part of Texas and 15 Rivers, with the proper funding facility in place, is poised to grow along with its community. Thermo has ventured into this new industry based on our strong relationship with Mr. Carter.”
About Thermo Credit, LLC
Thermo Credit is a privately held funding company that provides asset based loans, accounts receivable financing and factoring services primarily to the communications and technology industries. Thermo Credit serves established, well-run companies that need capital to expand their business, improve their operations or fund an acquisition. For more information, visit www.thermocredit.com or contact Seth Block at 504-620-3101.
About 15 Rivers Ready Mix, LLC
15 Rivers Ready Mix is an innovative new competitive force in North Texas that utilizes the latest technologies, tried and true procedures, best of breed plants and ready mix trucks. The management talent that directs this new entity has over 25 years of service experience in the ready mix market and many have had or currently operate numerous successful businesses in the North Texas Market. These combined talent sets are the new benchmark in the North Texas ready mix market.