Star Equity Holdings announced that its KBS Builders business unit has closed a $4 million revolving line of credit with KeyBank National Association. KBS intends to use the LOC to meet its working capital requirements and execute its business plan. The closing of this LOC provides both KBS and Star with financial flexibility to focus on their respective growth initiatives. The LOC has an April 30, 2025 maturity date, which can be extended based on fulfillment of certain terms and conditions. Borrowings under the LOC will bear an interest rate of SOFR plus an applicable margin of 3.00%.
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