Janex Gets $1-Million Line of Credit From Metro Bank
Janex International Inc., a Woodland Hills-based manufacturer of children’s products, said it has been extended a new, larger line of credit by Metro Bank. The $1-million line of credit is secured by a $500,000 certificate of deposit, effectively providing the company with $500,000 in available borrowings.
The new credit facility replaces Janex’s former $650,000 line of credit. Janex’s chief financial officer, Michael Manahan, said this will help Janex manage its cash flow better throughout the peak shipping season this summer.
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