PNC does not charge a fee for Mobile Banking. However, third party message and data rates may apply. These include fees your wireless carrier may charge you for data usage and text messaging services. Check with your wireless carrier for details regarding your specific wireless plan and any data usage or text messaging charges that may apply. Also, a supported mobile device is needed to use the Mobile Banking App. Mobile Deposit is a feature of PNC Mobile Banking. Use of the Mobile Deposit feature requires a supported camera-equipped device and you must download a PNC mobile banking app. Eligible PNC Bank account and PNC Bank Online Banking required. Certain other restrictions apply. See the mobile banking terms and conditions in the Digital Services Agreement.
DME Corporation, headquartered in Fort Lauderdale, Fla., and a prime contractor and subcontractor for defense industry companies, has selected PNC Business Credit and PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), for a comprehensive package of corporate banking services.
DME's arrangement with PNC Business Credit includes a $10 million revolving credit and a capital expenditure (CAPEX) line of credit. Additional banking services to be provided by PNC Bank will include a wide array of treasury management services, consisting of lockbox, controlled disbursements, account reconcilement and sweep investment accounts. Because DME purchases manufacturing supplies from vendors outside of the United States, the company also will use PNC Bank's foreign exchange capabilities to purchase euros for foreign payments.
PNC Business Credit is an asset-based lender with more than 20 offices nationwide, including Boca Raton. Asset-based lending is a financing option that enables companies to leverage the asset value and cash flow of their businesses for working capital growth, mergers and acquisitions, restructurings and turnarounds.
"We selected PNC Business Credit and PNC Bank because of the variety of services, including the pricing and structure of the credit facilities," said Diane Avidor, chief financial officer of DME Corporation. "Perhaps the most compelling feature of PNC is the high level of asset-based lending expertise from Florida-based bankers who understand our business needs as well as the local market."
DME Corporation designs and manufactures lighting systems and electronic safety and test equipment for the aviation and marine industries for both government and commercial customers. DME specializes in developing and manufacturing test systems and simulation and training devices for the United States Department of Defense and foreign military branches. The company acts as a prime contractor for contracts and subcontracts with well-known defense industry companies.
PNC Business Credit is the business operated by PNC Bank, N.A. as its asset-based lending arm. Headquartered in New York with offices nationwide, PNC Business Credit is an asset-based lending service, with more than $10 billion in commitments. PNC Business Credit specializes in providing secured financing to middle-market companies in the manufacturing, wholesale, distribution, retailing and service industries, many of which have substantial overseas operations. PNC Business Credit enables clients to leverage the value of their assets and cash flow to achieve both short- and long-term goals, including working capital growth, mergers and acquisitions, recapitalizations and restructurings, and turnarounds.
PNC Bank's wholesale banking business is focused on maximizing value to corporate and real estate clients through the development of customized financial solutions. Offering a broad array of credit, treasury management, capital markets and investment vehicles, PNC Bank's wholesale banking division helps business owners and senior managers achieve their financial and strategic business goals.
The PNC Financial Services Group, Inc., headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations, providing regional community banking; wholesale banking, including corporate banking, real estate finance and asset-based lending; wealth management; asset management; and global fund services.
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SOURCE: PNC Bank, N.A.
CONTACT: Amy Vargo, PNC, +1-412-762-1535, amy.vargo@pnc.com
Web site: http://www.pnc.com/
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