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SRFC Provides $12MM LOC

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Sterling Resource Funding Corp has provided a working capital line of credit to a large staffing company

Published in: Economy & Finance, Business
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SRFC Provides $12MM LOC

  1. 1. Sterling Resource Funding Corp Provides Financing to Joule Wednesday, January 27, 2010 Sterling Resource Funding has approved a $12 million senior secured line of credit along with a $1.5 million senior secured term loan to Joule Inc. The lines will replace an existing lender and be utilized for working capital purposes. Joule Inc. is a regional staffing company in Edison, NJ founded in 1965. The company's operations are divided between two business units: Staffing Services and Industrial Contracting. The staffing service unit provides temporary and temp-to-hire staffing as well as direct hire placement services. Sterling Resource Funding Corp. provides financing and payroll support services to clients across the U.S.

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