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Article: SLED DOGS COMPANY OBTAINS $2.0 MILLION LINE OF CREDIT
- Article from:
- PR Newswire
- Article date:
- July 6, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. PAUL, Minn., July 6 /PRNewswire/ -- The Sled Dogs Company (Nasdaq: SNOW) announced today that it has secured an asset-based line of credit of up to $2.0 million from Norwest Business Credit, Inc., a unit of Norwest Corporation, Minneapolis.
John Sundet, president and chief executive officer of The Sled Dogs Company said the line of credit will be used principally for seasonal working capital needs. "Due to the seasonal nature of the winter sports business, the majority of sales and deliveries occur between July and December. This line of credit will help us finance the increase in sales we expect as a result of successful marketing and sport-building ...