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Issue Date: Vol. 53, No. 5, May 2013, Posted On: 4/22/2013

USA Technologies Expands Credit Line

Emily Jed
TAGS: vending machine payments, cashless vending, USA Technologies Inc., USAT credit line, Avidbank Corporate Finance, David M. DeMedio, ePort POS terminal, ePort Connect service, small-ticket sales.

MALVERN, PA -- USA Technologies Inc. said it has renewed and increased its line of credit with Avidbank Corporate Finance. The agreement increases the amount available under the credit line from $3 million to $5 million, and renews it for another 12 months.

USAT chief financial officer David M. DeMedio said the company's access to more capital and improvements in cash-generating operations over the past year will help it "execute its growth platforms."

USAT's flagship products are the ePort cashless payment system and the ePort Connect service, a PCI-compliant suite of cashless payment, telemetry and consumer-engagement services for unattended, small-ticket sales.

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