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MB Business Capital Provides $10.5MM Credit Facility for Southeast Aluminum Products

October 28, 2016, 07:50 AM
Filed Under: Manufacturing

MB Business Capital recently provided a new $10.5 million senior credit facility to Southeast Aluminum Products, Inc. (“SEAP”). Headquartered in Jacksonville, FL, SEAP is a leading manufacturer of bath enclosures and shower doors for the residential and commercial building industry, servicing the U.S., Canada, Central & South America, and the Caribbean from its manufacturing facilities in Jacksonville, Indianapolis, and Phoenix. Proceeds of the facility were used to refinance existing debt and to fund working capital.

“MB Business Capital knows and understands the building industry well. Our expert team was able to provide an innovative structure that provides SEAP with the additional liquidity that they were seeking.” says Michael Sharkey, President of MB Business Capital.

“We are excited to be working with MB Financial, and the additional funding will help towards our expansion plans. We look forward to a long and prosperous relationship.” says Bill Johnson, President of Southeast Aluminum Products, Inc.

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. The firm can provide access to selected products and services offered by MB Financial Bank. MB Business Capital Canada is a subsidiary of MB Financial Bank.

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