Logisoft, a software and IT services firm, has secured a $1 million credit facility over three years from Keltic Financial Partners LP.

Logisoft is a subsidiary of eResource Capital.

In order to secure the credit line, an existing credit facility had to be reduced to $300,000 from $600,000, the company said.

Logisoft reported sales of $2.5 million in the fourth quarter of 2002, an increase of 38 percent over 2001, and a loss of $80,000, a decrease of 52 percent.

Logisoft: www.logisoft.com