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mBank Business Credit FUNDS $3,000,000 ABL LINE OF CREDIT

An Illinois based distributor of soft goods received an $3,000,000 asset based line of credit on its accounts receivable and inventory from mBank Business Credit last month. The firm had suffered some setbacks and its existing bank had asked them to exit. MBC management met the ownership team and heard their turnaround plan and found a way to meet their financial needs going forward. As they continue their positive progression, MBC can transition the firm to a more traditional bank line of credit. Thereby making the MBC solution a permanent solution for the client.

 

mBank Business Credit FUNDS $1,500,000 ABL LINE OF CREDIT

A Michigan based commodity re-seller received a $1,500,000 asset based line of credit on its accounts receivable from mBank Business Credit last month. The firm had suffered some setbacks and its existing bank had asked them to exit. MBC management met the ownership team and heard their turnaround plan and found a way to meet their financial needs going forward. As they continue their positive progression, MBC can transition the firm to a more traditional bank line of credit. Thereby making the MBC solution a permanent solution for the client.

 

mBank Business Credit funds $750,000 ABL Line of Credit

A Michigan based printing and content management firm received an $750,000 asset based line of credit on its accounts receivable from mBank Business Credit this month. The firm has been restructuring its operations and evolving to meet the needs of its clients when its existing bank ran out of patience and requested to be paid off. MBC was called in by the bank to be a replacement lender for their client. MBC management met the ownership team and heard their turnaround plan and found a way to meet their financial needs going forward. As they continue their positive progression, MBC can transition the firm to a more traditional bank line of credit. Thereby making the MBC solution a permanent solution for the client.

 

mBank Business Credit Funds $700,000 ABL Line of Credit

A Michigan based service business was not getting the service they expected from their current lender. In the end they were told by their lender that they were “too small” for them to handle. MBC was called in by a trusted advisor of the company to meet management and review their future plans. MBC was impressed with the ownership and their commitment to the business. MBC provided them a line of credit secured by A/R, Inventory and Equipment and allowed the facility to expand when needed. At MBC we are a true small business lender that will take the time and care necessary to help small business grow and prosper.

 

mBank Business Credit Funds $2,900,000 ABL Line of Credit

A Michigan based precision parts manufacturer was restructuring its balance sheet and raising additional capital. It was seeking a new lender that could help them leverage their balance sheet assets and provide a working capital line to complete their recapitalization. MBC met with management and reviewed the future plans of the firm. By leveraging the accounts receivable, inventory and equipment in one facility, MBC provided the final piece to help put their restructuring plan in place.

 

mBank Business Credit funds $750,000 ABL line of credit 

A South Carolina-based Environmental firm was closing out the start-up phase of their business plan.

While sales were ramping up significantly, they did not have the history to find a traditional bank to fund their growth. MBC management was introduced to the firm, met with management and reviewed their extensive growth plans. MBC provided this dynamic firm a funding platform to help them reach the next level in their development. We expect the line to grow as they hit their targets and eventually transition to a traditional bank structure. Meanwhile, mBank Business Credit is performing a crucial role for this firm in helping it reach its growth goals.

mBank Business Credit closes two new loans

A Michigan-based legal support services company obtained a $2,000,000 ABL line of credit to support their dynamic sales growth. The firm's community bank could not keep up with the rapid growth rate the company was experiencing. A trusted advisor called mBank Business Credit into the deal and after an assessment of management and the collateral, a new loan was put into place in 3 weeks that paid off the bank and provided the necessary liquidity to allow the firm to continue its growth.

An Ohio-based commodity products distributor obtained a $1,000,000 ABL line of credit. The company was in need of a more flexible lending solution. MBC stepped in quickly and offered them a revolving asset based loan on their accounts receivable. The loan funded in 8 days after the field exam was completed.

mBank Business Credit funds $3,000,000 ABL line of credit

mBank Business Credit (MBC) has funded a $3MM ABL line of credit to an Arkansas based Metals Recycler.  The Recycler had made substantial investments in plant and equipment but needed more time to effect their restructuring plan. After meeting with management and understanding the future plans of the firm, MBC was able to pay off the current lender and supply the firm with availability to help them realize their restructuring plans.

mBank Business Credit closes two factoring transactions totaling $1,100,000.

- An Ohio based metals distributor funded a $600,000 A/R ledgered line of credit. 
- An Ohio based manufacturer of poly composite materials funded a $500,000 factoring facility to be converted over to an ABL line shortly.

mBank Business Credit funds $2,500,000 ABL line of credit
 
A Michigan based manufacturer of polyethylene products had expanded sales rapidly with mixed bottom line results.  The firm’s bank became uncomfortable with the growth and was reluctant to expand their credit line.  mBank Business Credit was called in and met with management and reviewed their facility and projections.  By leveraging the accounts receivable, inventory and equipment within a borrowing base, MBC was able to pay off the bank and provide the firm with extra availability to help them fund their growth and complete the turnaround of their operations.

mBank Business Credit funds $1,500,000 ABL line of credit.

An Ohio based Nano-Technology firm was trying to complete a merger and was not getting the service they expected from their current bank relationship.  mBank Business Credit was called in by their trusted advisor to take a look. The MBC team met with management, heard their expansion plans, and turned around a proposal letter quickly.  MBC ended up paying off the bank and providing the firm with more liquidity and a more flexible lending arrangement during this period of expansion for the firm.  The firm felt that dealing with a true asset based lender during this period of expansion was the right choice.