Transnational Financial Network Inc., San Francisco, has announced that it has arranged a $20 million warehouse facility with an undisclosed lender.Joseph Kristul, Transnational's chairman and chief executive, said the line has a borrowing rate of 2.25% above the 30-day London interbank offered rate. "Not only will this facility provide additional capability, but also this new facility carries a borrowing cost that is the lowest of all our borrowing facilities," Mr. Kristul said. "Full utilization of this credit line in place of credit lines we previously have used would result in annual interest expense savings of $400,000 to $600,000 when compared to what our financing costs were in the first half of this calendar year."
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