Private lending syndication platform CrowdOut Capital announced on Wednesday the completion of a multi-million dollar term loan to Shale Support, a provider of frac sand and logistical solutions to the oil and gas proppant market.

According to CrowdOut, the loan will support the acquisition of two sand mines, spanning over 1,000 acres that contain more than 100 million tons of recoverable high-grade frac sand, which are located near the prolific shale plays in the southeastern U.S., and finance capital expenditures to increase production capacity at the sand mines.

Read the full article: CrowdOut Provides Multi-Million Dollar Term Loan to Shale Support (CrowdFund Insider)