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Lotus Vaping Technologies is a growing distributor and seller of e-cigarette equipment and "e-juice," but the Garden City company had to go out of state to get a line of credit at a bank.
After looking unsuccessfully in Idaho, Lotus recently got a $1.5 million line of credit with Sterling Commercial Credit in Michigan.
Lotus CEO Bob Henry said the line of credit will help the company increase its inventory, which will help it continue to grow and handle larger distribution accounts.
Lotus ships products to all 50 states and Canada. The company sells e-juice, the electronic cigarette liquid that typically contains nicotine, water and flavoring, as well as the refillable tanks for e-juice, batteries and other electronic cigarette parts. The company has 42 employees at its Garden City warehouse and another 20 at its four retail stores called Vape in the...