Presidential Financial Corporation Announces Loan With FSTI, LLC
ATLANTA - Presidential Financial Corporation announced it has provided $10 million in working capital and term facilities to FSTI Inc. Headquartered in Austin, Texas, FSTI Inc. manufactures and distributes a range of chemical products and provides logistics services to companies in the oil and gas, semiconductor, and technology industries, and to municipal utility companies throughout Texas and neighboring regions. The funds were used to refinance the payoff to an existing lender, provide additional working capital, and help facilitate further business expansion. The transaction was completed July 13, 2018.
Headquartered in Atlanta with offices in Chicago, Cleveland, Dallas and Phoenix, Presidential Financial Corporation provides customized and flexible financing solutions to growing businesses nationwide. Offering lines of credit of up to $30 million, Presidential Financial Corporation provides working capital and term loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.
PFC is owned by MidFirst Bank, one of the nation's largest privately held banks with more than $15 billion in assets. This unique structure gives PFC the flexibility of a finance company with the financial backing and stability of a bank.