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Commercial Finance Partners Closes $2MM Asset-Based Loan for Prescription Drug Supplier

August 17, 2020, 08:30 AM
Filed Under: Industry News

Commercial Finance Partners announced the closing of a $2,000,000 asset based loan for a national prescription drug supplier headquartered in Michigan.  The borrower, faced with restrictive bank covenants, sought out Commercial Finance Partners to provide a solution that would have less restrictions and increased availability for growth.

“By keeping the rate competitive and comparable with the bank’s rate and providing a structure that eliminated the covenants and growth inhibitors, we were able to help the client’s continued growth trajectory and success” commented Bill Krebsbach, VP of Business Development.  “Our specialization in medical related transactions also helped us provide the value needed to win the client relationship and close within a 30-day window successfully alleviating the borrower from inquiring a renewal fee from the previous credit facility.”

Commercial Finance Partners provides funding solutions for small to middle market companies seeking non-traditional sources of capital and working capital.  Through direct lending and partner programs, Commercial Finance Partners is the one-stop shop for any non-bank financing need.  Our product offering includes accounts receivable financing, SBA 7a and 504, asset based loans, equipment financing, real estate loans, and other non-traditional loan products to fit almost any small to medium size business financing request. 

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