AVT, Inc. (Ticker: Ticker: AVTC.PK) (www.autoretail.com) has received a new multi-million dollar line of credit from PMF Bancorp.
The credit line is intended primarily to help support AVT’s growing list of new production orders for units being placed nationwide, including in Walmart stores, major airports, hotels, health clubs and malls throughout the country.
AVT is a leader in the automated retailing industry, and designs and manufactures self-service retailing solutions for some of the top brands and retailers in the world.
The company is growing rapidly, which has necessitated developing and sourcing new production facilities and distribution centers. According to IPODesktop analyst Francis Gaskins , comparing the June 2011 quarter with the June 2010 quarter, AVT’s revenue skyrocketed 150%, while gross profit leaped 95%.
PMF Bancorp is a U.S. based commercial bank lender specializing in custom working capital programs for domestic and foreign companies with branch offices throughout China and expertise in helping U.S. companies looking for financing structure and credit guarantees on Chinese companies and manufacturing partners.
In addition to proving a guaranteed line of credit, PMF Bancorp will extend their Chinese banking and business relationships to AVT to help the company procure needed production, assembly and materials, quickly, reliably, and at less cost.
For more information on AVT, please call 877.424.3663 or visit the website at www.autoretail.com.