funded a $2.0 million revolver to a Texas-based oil services provider M&W Hot Oil as a result of a connection made on Axial.
The business has eight locations throughout West Texas and more than 1,200 active customers. The facility is secured by receivables.
’s funding provides the company with the ability to satisfy increased demand resulting from the resurgence of the industry. “While many lenders are still apprehensive to lend into the Oil and Gas industry, GemCap sees opportunity,” commented Jim Thieken, Executive Vice President of GemCap. “We are pleased to provide the company with a financing solution to support its continued growth and expansion.”
has been an Axial member since April, 2016.