September 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — AGR Tools, Inc. (OTCBB: AGRT) said that it has entered into the final stage of an approval process for a debt financing facility of $2 million with Crossroads Financial NC, LLC. According to AGR, when the current non-binding proposal between the parties is formalized, the financing 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 amount of $2 million.

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

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

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