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MidFirst Business Credit Provides $12.2MM in Credit Facilities to Ullman Oil

August 28, 2020, 08:00 AM
Filed Under: Distribution

MidFirst Business Credit (MFBC) announced it has provided $12.2 million in working capital and term-loan facilities to Ullman Oil Company, LLC. Ullman, located in Chagrin Falls, Ohio, is a full-service, value-added supplier and distributor of gasoline, diesel fuel, biodiesel, home heating oil and lubricants. The funds were used to refinance the payoff to an existing lender, provide working capital and help facilitate further business expansion. The transaction was completed on August 5, 2020.

“We are very excited to lead our company forward with the support of our new banking relationship partner,” stated Jennifer Berlin, CEO of Ullman Oil Company. “With MidFirst as a partner, our team can focus on business growth and our unwavering commitment to our valuable customers. During the refinancing process, MidFirst Bank succeeded at understanding our business and its unique needs and went outside of the box in order to meet those needs. Their professionalism, speed from term sheet to closing, and support during the transaction was impressive, and they made the process very easy for our team at Ullman Oil.”

Dennis Schlesner, MFBC president, added, “We are very pleased to begin a long-term relationship with Ullman Oil, and look forward to being their bank for years to come.”

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