General Employment Enterprises, Inc. Announces Financing Agreement With Crestmark Bank
30 October 2009 - 8:37AM
PR Newswire (US)
OAKBROOK TERRACE, Ill., Oct. 29 /PRNewswire-FirstCall/ -- General
Employment Enterprises, Inc. (NYSE Amex: JOB) announced today that
it has entered into an agreement with Crestmark Bank, under which
Crestmark will provide General Employment with a $3.5 million
revolving line of credit. The loan agreement will make funds
available to finance growth in the company's contract and direct
hire divisions. Commenting on the agreement, Ron Heineman, CEO
stated, "We are pleased with the agreement and with having
Crestmark Bank assisting General Employment as a strategic partner
going forward. With our major restructuring announced in July and
our financing agreement with Crestmark, we are poised to grow both
organically and through acquisitions." Business Information General
Employment provides professional staffing services, and specializes
in information technology, accounting and engineering placements.
Forward-Looking Statements The statements made in this press
release which are not historical facts are forward-looking
statements. Such forward-looking statements often contain or are
prefaced by words such as "will" and "expect." As a result of a
number of factors, our actual results could differ materially from
those set forth in the forward-looking statements. Certain factors
that might cause our actual results to differ materially from those
in the forward-looking statements include, without limitation,
those factors set forth under the heading "Forward-Looking
Statements" in our annual report on Form 10-KSB for the fiscal year
ended September 30, 2008, and in our other filings with the SEC.
General Employment is under no obligation to (and expressly
disclaims any such obligation to) and does not intend to update or
alter its forward-looking statements whether as a result of new
information, future events or otherwise. DATASOURCE: General
Employment Enterprises, Inc. CONTACT: Ronald E. Heineman, Chief
Executive Officer and President of General Employment Enterprises,
Inc., +1-630-954-0403, or Fax, +1-630-954-0595, Web Site:
http://www.generalemployment.com/
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