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MB Business Capital Provides $32.9MM Credit Facility for Valley Fine Foods

September 07, 2016, 07:41 AM

MB Business Capital announced it recently provided a new $32.9 million senior credit facility to Benicia, California-based Valley Fine Foods Company, Inc.  Valley Fine Foods is a family-owned company and manufacturer and marketer of chef-inspired pasta and sauces. They specialize in fresh and frozen ravioli and tortellini sold through grocery and club stores in the United States, Canada and a few other countries.  Proceeds of the facility were used to refinance existing debt and to fund working capital.

“MB Business Capital knows the food industry. We are extremely happy to welcome Valley Fine Foods as a new customer. MB Business Capital was able to provide a lending facility that will support their day to day needs as well as their long term growth.” says Michael Sharkey, President of MB Business Capital.

“As we explored options to improve our credit and cash position through an updated debt structure, we were looking for a bank that provided the flexibility and personal service that larger banks do not typically provide. MB Business Capital met this need and they have been a pleasure to work with throughout the process. They have provided the flexibility we needed and I have been impressed with the professional, supportive and friendly approach of their staff as we transitioned the debt, treasury management and bank card services. We are really happy with our choice” says Dave Weber, CFO of Valley Fine Foods Company.

MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois.  MB Business Capital seeks asset-based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million.

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