Force 3 lands $27.5M in financing
Force 3 Inc. secured a $27.5 million revolving credit facility from Transamerica Distribution Finance Corp. to fund an expansion and working capital needs.
Force 3 specializes in designing and integrating networks for federal agencies and providing related engineering and consulting services. The revolving credit facility will increase the company's capacity to support bigger sales and promote growth. The company's assets and accounts receivable secured the loan.
Force 3 also is eligible for Transamerica's major accounts program, a purchase order-funding service that offers an additional line of credit to increase its working capital.
Based in Crofton, Md., Force 3 reported 2002 revenue of $145 million and 149 employees. The company was ranked No. 62 on Washington Technology's
2003 Top 100 list.