Kentucky-based TX Rail Products, a rail and rail products supplier to the U.S. coal mining industry, short line railroads and tunneling contractors, recently signed with its existing lender for an increase in its line of credit.
The new credit line expands the company’s total availability from $500,000 to $1 million and will be used to support its growth strategy, strengthen its supply chain and meet increasing customer demand for rail products.
The new credit line was secured at an interest rate of slightly 1 percent above prime.
“Increasing our credit line, securing essential materials at favorable pricing and investing in our delivery infrastructure reinforces our ability to sustain our competitive position and deliver future growth,” William Shrewsbury, TX Rail Products CEO and Chairman, said. “As we execute our operational roadmap, these milestones demonstrate our commitment to smart, sustainable expansion while maintaining a strong and resilient foundation.”
In addition to the line of credit, the company implemented initiatives to strengthen operations and effectively manage costs. This includes securing materials and supplies from regions unaffected by the recent U.S. tariffs. The company expects this will guard against future price increases and support cost stability for at least the next eight to 12 months.