Alachua, Florida (PRWEB) August 08, 2013
CTD Holdings, Inc. (OTCQB:CTDH) closed on a series of loans through Regions Bank that refinances its existing indebtedness into three notes at favorable interest rates. The three notes consist of: a Mortgage on the company's Alachua, FL property of $578,998 with an interest rate of 3.99%; an Equipment Loan of $295,890 secured by a lien on the company's manufacturing equipment with an interest rate of 3.99%; and a Line of Credit for $100,000 with an interest rate of prime plus 1.8% currently 5.05%. A complete description of the loan package is found in the SEC Form 8K filed July 26, 2013.
This new lending facility with Regions Bank positions the company for continued future growth by improving monthly cash flow, reducing the effective interest rate on the Company’s debt by more than 2%, and extending the maturity of the debt. Regions Bank is a strong banking partner able to meet the Company’s larger and more complicated banking service needs as it grows.
“We are delighted to establish a primary banking relationship with Regions Bank.” stated CTD Holdings President, Dr. Jeffrey Tate, “Regions is well positioned to provide the level of service and banking support our Company will need as we continue to grow.”
As part of the loan package, CTD Holdings has agreed to make Regions Bank home for its primary operation accounts.
“The improved cash flow and reduced borrowing costs mean the Company is now better positioned to invest in new products and sales activities.” said CTD Holdings Director of Operations, Mr. Kevin Strattan.
CTD Holdings is currently upgrading its internet eCommerce site and developing ultra pure products for cosmetic, cell culture and pharmaceutical applications.
About the Company:
The CTD Holdings, Inc. Family of Companies manufacture and market Trappsol and Aquaplex cyclodextrins and cyclodextrin complexes
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