July 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — AGR Tools, Inc. (OTCBB: AGRT) said it has entered into a non-binding proposal with Crossroads Financial NC, LLC for a debt financing facility of $2 million. If formalized, this will permit AGR to draw down an initial maximum of $500,000 against the purchase of inventory relating to end-buyer purchase orders, with an initial annual supply facility of $2,000,000.

The company said it plans to use this potential financing arrangement to fund the fulfillment of accrued back orders and assist with building up current inventory.

Texas-based AGR Stone & Tools USA is a contract manufacturer and distributor of tools and accessories to the construction, building maintenance and demolition industries in the United States and Canada.

The firm supplies more than 700 products through its stocking dealership network and website. The products include diamond based tools and adhesives and it specializes in producing consumable tools for the natural stone, engineered stone, concrete and masonry industries.

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