Labor SMART, Inc. Boosts Its Line of Credit

ATLANTA, GA--(Marketwired - Jan 15, 2015) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, is pleased to announce that it has increased its working capital line of credit.

Labor SMART, Inc. amended its existing credit facility with Transfac Capital to increase the maximum available borrowing capacity from $2.0 million to $4.0 million. In addition, its advance rate against its accounts receivable has increased from 85% to 90%.

Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART, stated, "We are very pleased to have completed this important step in our financial plan for 2015. This source of additional working capital is key to executing our growth strategy without the need for convertible promissory notes. The operations team at Labor SMART has been hard at work strengthening processes and controls that contributed greatly to getting this increased credit facility in place."

About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.

Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Labor SMART, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Labor SMART, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with the U.S. Securities and Exchange Commission.

Link back to original article on NuziNet.com

Link back to Labor Smart, Inc. on NuziNet.com