XZERES Receives $1M Credit Facility

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XZERES Corp., a designer, developer and producer of distributed-generation wind power systems up to 100 kW, has received a $1 million credit facility from Universal Funding Corp. The credit facility was established to provide funds against accounts receivables, thereby allowing the company to cycle its cash more efficiently and better manage working capital, according to XZERES.

‘This line of capital will further assist XZERES' ability to capitalize on the rapid growth in orders while continuing to provide flexibility to our customers to match their payments with the available grant programs,’ says Frank Greco, CEO of XZERES.

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