Tuesday, August 3, 2010

Waytronx Gets $4.0M Line of Credit

Tualatin, Oregon-based electronics manufacturer Waytronx said today that it has scored $4.0M in a line of credit. According to the firm, the firm said the line of credit came from the Business Credit division of Wells Fargo Capital Finance, part of Wells Fargo Bank. the firm also said it has moved its banking relationship to Wells Fargo. The firm said the financing and move is part of a restructuring of the firm's corporate debt, and also cures the firm of default with prior bank Key Bank and its line of credit. Waytronx said it is continuing a "transformation" from a brick and mortar electronics distributor to a firm which identifies, acquires, licenses, and commercializes proprietary technology.