General Employment Enterprises, Inc. Announces Financing Agreement With Crestmark Bank
OAKBROOK TERRACE, Ill., Oct. 29 /PRNewswire-FirstCall/ -- General Employment Enterprises, Inc. (NYSE Amex: JOB) announced today that it has entered into an agreement with Crestmark Bank, under which Crestmark will provide General Employment with a $3.5 million revolving line of credit. The loan agreement will make funds available to finance growth in the company's contract and direct hire divisions.
Commenting on the agreement, Ron Heineman, CEO stated, "We are pleased with the agreement and with having Crestmark Bank assisting General Employment as a strategic partner going forward. With our major restructuring announced in July and our financing agreement with Crestmark, we are poised to grow both organically and through acquisitions."
General Employment provides professional staffing services, and specializes in information technology, accounting and engineering placements.
The statements made in this press release which are not historical facts are forward-looking statements. Such forward-looking statements often contain or are prefaced by words such as "will" and "expect." As a result of a number of factors, our actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause our actual results to differ materially from those in the forward-looking statements include, without limitation, those factors set forth under the heading "Forward-Looking Statements" in our annual report on Form 10-KSB for the fiscal year ended September 30, 2008, and in our other filings with the SEC. General Employment is under no obligation to (and expressly disclaims any such obligation to) and does not intend to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE General Employment Enterprises, Inc.
Released October 29, 2009