IRVING, Texas, Nov. 03, 2016 (GLOBE NEWSWIRE) -- Excel Corporation (OTCQB:EXCC), a leading provider of integrated financial and transaction processing services to merchants throughout the United States today announced that it secured a new $25 million term loan facility through Great American Capital Partners, LLC, a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY). The credit facility consists of an initial term loan of $13.5 million, with availability to borrow an additional $11.5 million during the first year of the three year term. Proceeds from the initial loan amount were used to repay all of the Company's existing secured debt, including approximately $8.0 million incurred in connection with the purchase of the U.S. assets of Calpian Inc. in November 2015, as well as for working capital and general corporate purposes. "After the Calpian acquisition in late 2015 and with the profitable restructuring of our Securus subsidiary earlier this year, Excel now enters a fresh stage of growth fueled by the support of our new financing relationship with Great American. This capital will enable us to move quickly on future acquisition opportunities, allowing us to successfully execute on our strategy of being a significant merchant acquirer in the U.S. market," stated T. A. "Kip" Hyde, Jr., Excel CEO. "Just as importantly for our stockholders, this $25 million facility provided us with access to capital without equity dilution." Excel CFO, Robert Winspear added, "The additional working capital received from the initial term loan, as well as the ability to draw up to an additional $11.5 million immediately improves our current financial position and provides significant additional capital to finance future acquisitions. With the successful integration of our eVance subsidiary now completed, we have profitable ongoing operations on a robust platform, with access to significant new growth capital, as well as additional sales channel opportunities. With this new term loan facility, we are focused on accelerating our revenue growth and further increasing profitability."