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Marquette Business Credit Funds $14.1MM Facility to Wire Tech, Inc.

September 13, 2016, 07:11 AM
Filed Under: Steel

Marquette Business Credit, LLC recently funded a $14.1 million credit facility to WireTech, Inc.  Headquartered in Commerce, CA, WireTech is the premier supplier of aerospace, commercial and industrial steel wire and bars to the fastener and related industries.  

William Hillpot, President of WireTech, Inc, was quoted as saying: "WireTech has had a long relationship with Marquette for over ten years. We are happy to continue the relationship."
The secured facility consists of a $12.0 million revolving line of credit and an additional $2.1 million in inventory and equipment term loans.  This new facility offered by Marquette will provide WireTech with the working capital needed to refinance their existing debt and provide additional capital to meet their business growth expectations. 

Marquette Business Credit provides asset-based loans up to $25 million to middle-market companies throughout the U.S.  The loans are made to a wide variety of industries and include secured lines of credit against accounts receivable, inventory, machinery and equipment, real estate, along with cash flow supported term loans. 

UMB Financial Corporation is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. 

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