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First Business Bank’s ABL Group Funds $11MM Credit Facility in 28 Days

July 24, 2023, 07:05 AM
Filed Under: Distribution

Michael Doyle, Vice President – Asset-Based Lending at First Business Specialty Finance, a subsidiary of First Business Bank, announced a recently closed and funded $11 million revolving line of credit for the acquisition of a pipe/valve/fittings distributor in Missouri. First Business Bank’s Asset-Based Lending team worked quickly and diligently to close the financing in 28 days.

The Asset-Based Lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Our financing assists these companies with a turnaround, a restructuring, to accommodate an acquisition, or if experiencing rapid growth.

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