Three-Year Agreement Provides Positive Step for U.S. Cavalry Business
Radcliff, KY (May 29, 2007) - Effective November 29, 2006 Cavalry Security Group, LLC and its wholly-owned subsidiary, U.S. Cavalry Store, Inc. entered into a three-year asset-based loan agreement with Wells Fargo Bank, N.A. in the amount of $10 million.
The loan will provide the needed funding to balance working capital and comes equipped with a built-in accordion feature that allows the loan to expand to $20 million.
“We are extremely excited about partnering with Wells Fargo. This loan facility gives us the strength to continue to grow as the brand of choice for the military, law enforcement and outdoor communities,” said James Leonard, CFO of both the Cavalry Security Group, LLC and U.S. Cavalry. “Our passion remains strong and our commitment to our customers is unfaltering. Teaming with Wells Fargo supports our vision of making U.S. Cavalry the leading provider of equipment for the customers we serve each day.”
About Wells Fargo & Company: Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "AAA," and Standard & Poor's Ratings Services, "AAA."
Providing financial products and services to more than one million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is America's #1 lender to small businesses in total dollar volume according to the most recent CRA data (2005).
About U.S. Cavalry: U.S. Cavalry, headquartered in Radcliff, Kentucky, has served professionals for over 30 years by delivering the world’s finest equipment, services and training. The company serves its customers through managed accounts, retail stores, mail order catalogs and web site. For more information, log-on to our web site at www.uscav.com or call 800.777.7172 today.
2855 Centennial Avenue
Radcliff, KY 40160