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BioElectronics gets Ex-Im Bank backing

BioElectronics Corp., of Frederick, a manufacturer of inexpensive, drug-free, anti-inflammatory medical devices and patches, said it has obtained a $500,000 line of credit from the Ex-Im Bank to create jobs and assist with export working capital.

The funding will enable BioElectronics to increase production of its existing products and expand export sales worldwide.

The company has established distribution agreements with more than 20 distributors in over 30 countries in Asia, Europe, Canada and Central and South America.

“We very much appreciate the Ex-Im Bank’s loan and international accounts receivable insurance coverage,” said Andrew J. Whelan, BioElectronics’ president.