Benzinga | Jul 13, 2021 09:09AM EDT

Charles & Colvard Enters Banking Partnership With JPMorgan, Including $5M Credit Facility

Charles & Colvard, Ltd. (NASDAQ:CTHR) (the "Company"), a globally recognized fine jewelry company specializing in lab created moissanite and lab grown diamonds, announced its new strategic commercial banking relationship with JPMorgan Chase Bank, N.A., which includes entering into a $5 million credit facility, executed July 12, 2021, following the termination of the Company's prior credit facility with White Oak Commercial Finance, effective July 9, 2021. This broad-ranging banking relationship provides a foundation for the Company to solidify its financial objectives and a basis to expand its financial capabilities going forward.