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Cambridge Savings Bank’s ABL Team Closes $4.5MM Deal with NE-Based Steel Manufacturer

June 25, 2020, 08:41 AM
Filed Under: Steel

Cambridge Savings Bank (CSB) announced the closing of $4,500,000 in senior secured credit facilities with a New England based steel framing manufacturer and fabricator.

The credit facilities provided by CSB’s Asset-Based Lending Team allowed the business to refinance their existing senior debt, and will be used for working capital and equipment financing to support ongoing business growth.

“We’re pleased to partner with another great ownership group and to provide them with a customized financing solution that will support the company in its growth initiatives,” said John Bobbin, FVP, Asset-Based Lending at Cambridge Savings Bank.

“This financing demonstrates once again Cambridge Savings Bank’s ability and willingness to connect with entrepreneurs, to take the time to understand their business and the challenges they face on a day-in, day-out basis and to work with those stakeholders to develop a financing package that will support their growth initiatives well into the future,” said Keith Broyles, SVP, Head of Asset-Based Lending.

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