First Business Bank’s Asset-Based Lending Group Funds $9.2 Million Credit Facility
Mike Colloton, vice president II – asset-based lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, has announced a recently closed and funded $9.2 million revolving line of credit, equipment term loan, and structured overadvance for the acquisition of a manufacturer of home building supplies.
The asset-based lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Our financing assists these companies with a turnaround, a restructuring, to accommodate an acquisition, or if experiencing rapid growth.