KINDRED INDUSTRIAL SERVICES SECURES $500,000 CREDIT FACILITY FROM THERMOCREDIT LLC TO FUND GROWTH PLANS
New Contracts Prompt Acquisition of Capital as Kindred Expands Operations and Infrastructure
Tampa, FL, August 30, 2022 -- Kindred Industrial Services announced a $500,000 factor-based credit facility from ThermoCredit LLC. The new credit facility was obtained to accommodate business growth and infrastructure build-out. Kindred Industrial Services is one of the fastest-growing construction and engineering management companies in Texas.
The addition of the $500,000 credit facility will enable the expansion of Kindred Industrial Services’ presence in Houston and throughout Texas. As part of the planned expansion, Kindred Industrial Services will be upgrading its equipment, facilities, and market presence.
“Kindred Industrial Services is a young company and we are rapidly growing. Partnering with ThermoCredit was a great move,” said Kolton Wilson, Sr. Director of Operations. “We’ve got big plans for this new line of credit to help us scale up. Our success in Texas is a result of exceeding customer expectations and our ThermoCredit relationship will enable us to continue that trend. Seth and his team have been tremendous partners and we look forward to expanding our new credit facility in the coming months.”
Seth Block, EVP of ThermoCredit LLC commented on the $500,000 factoring-based credit facility extended to Kindred Industrial Services, noting “Kindred is a dynamic company with a solid business plan. The factor-based credit facility we developed for them is going to help continue their positive momentum. We feel very strongly that this company is on the move and we see outstanding potential as they grow the business.“
Kindred Industrial Services include turnkey construction, procurement, engineering, and facility maintenance. With a focus primarily on the power, energy, chemical, manufacturing, and industrial sectors, Kindred Industrial Services experienced record-breaking growth in 2022 and projected continued growth trends into 2023.
Since 2002, ThermoCredit has provided funding for hundreds of businesses in the Communications and Technology industries. As a privately held funding company, ThermoCredit has access to significant funding resources and has provided over $1,000,000,000 worth of capital to companies with growth plans. Our team is comprised of people who come from a range of financial backgrounds, including tier-one investment banking houses, business founders, and credit analysts. ThermoCredit is not a bank or venture capital. We are a lender providing financial support to your business while you keep control. ThermoCredit helps remove the roadblocks on your roadmap to success.
About ThermoCredit, LLC
ThermoCredit is a privately held funding company providing financial solutions in the form of asset-based loans, accounts receivable financing, factoring services, and more. Since 2002, ThermoCredit has provided over $1,000,000,000 in financing to hundreds of companies seeking alternatives to conventional banking. Financial liquidity options to growing companies, while allowing owners to retain equity, is the cornerstone of ThermoCredit’s business focus. For more information, visit www.thermocredit.com or call (504) 975-8599.
About Kindred Industrial Services
Kindred Industrial Services builds and runs programs that empower facilities to make value-based decisions on how to manage risk, resulting in safe and profitable operations. We tailor our solutions to meet the individual needs of each client. We integrate our team's skill sets to provide comprehensive support across the area of mechanical integrity, asset reliability, and inspection services for a variety of industries.
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