DGSE Companies Inc. (DGSE: Quote) announced that it has entered into a Loan Agreement with its majority shareholder, NTR Metals, LLC, through which NTR will provide to DGSE a guidance line of revolving credit in an amount of up to $7.50 million.
The company said that the new credit facility carries an interest rate of two percent per annum for all funds borrowed pursuant to the Loan Agreement. Proceeds from the first draw of funds from the Line of Credit were used to repay DGSE's indebtedness to Texas Capital Bank, N.A. Future funds drawn on the Line of Credit will be used as working capital in the ordinary course of business of DGSE.
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by RTT Staff Writer
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