Select Sands Corp. said March 1 that it increased its line of credit with First Community Bank of Arkansas to US$5 million from US$2 million previously.
The facility bears an interest rate of 1% over the Wall Street Journal Prime Rate, while the rate is adjusted every three months. Principal and interest are due to be repaid on Feb. 20, 2019.
Select Sands plans to use the funds for growth and working capital requirements.
