BioElectronics Receives Working Capital Infusion Ex-Im Bank Provides Export Financing Support
FREDERICK, Md., May 29, 2013 /PRNewswire/ -- BioElectronics Corporation (OTC Pink: BIEL), the maker of advanced consumer medical devices, is pleased to announce it has been issued a $500,000 Line of Credit from Ex-Im Bank to create jobs and assist with export working capital.
The funding will enable BioElectronics to increase production of its existing products and expand export sales worldwide. The Company has established distribution agreements with more than 20 distributors in over 30 countries in Asia, Europe, Canada and Central and South America.
"Our products have been awarded innovation awards from The Wall Street Journal and the prestigious OTC Bulletin drugstore trade journal and we very much appreciate the Ex-Im Bank's loan and international accounts receivable insurance coverage," said Andrew J. Whelan, President, BioElectronics.
About BioElectronics Corporation
BioElectronics (www.bielcorp.com) is an award winning developer and manufacturer of advanced medical devices. Its products are ActiPatch® Therapy, for over-the-counter treatment of back pain and other musculoskeletal ailments, the Allay™ Menstrual Cycle Pain Therapy, and RecoveryRx™ for surgical procedures and wound care.
SOURCE BioElectronics Corporation