HireQuest Announces Closing of $63.2 Million Credit Facility
July 06, 2021 at 04:05 pm EDT
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HireQuest, Inc. announced that the company has closed a $63.2 million credit facility comprised of a $60.0 million Revolving Credit Facility and a $3.2 million Term Loan with its existing lender, Truist (formerly BB&T). The new facility replaces the company’s prior $30 million revolving credit facility.
Some proceeds from the Term Loan were used to pay off the company’s prior credit facility, and to pay transaction fees and expenses incurred as part of this transaction. The new Revolving Credit Facility matures on June 29, 2026, and the Term Loan matures on June 29, 2036.
HireQuest, Inc. is a franchisor of offices providing direct-dispatch executive search, commercial staffing, and permanent placement solutions. The Company, through its franchisees, provides various types of services through multiple business models under the trade names HireQuest Direct, Snelling, HireQuest, DriverQuest, HireQuest Health, Northbound Executive Search, Management Recruiters International (MRI). HireQuest Direct focuses on daily work/daily-pay jobs primarily for construction and light industrial customers. Snelling and HireQuest focus on longer-term staffing positions in the light industrial and administrative arenas. DriverQuest specializes in both commercial and non-CDL drivers serving a variety of industries and applications. HireQuest Health specializes in skilled personnel in the healthcare and dental industries. Northbound and MRI focus on executive, managerial, and professional recruitment services, although they also offer short-term consultant services.
HIREQUEST, INC. 
