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Marquette Business Credit Provides $6MM ABL to AMSCO Steel

February 25, 2014, 07:09 AM
Filed Under: Metals and Mining

Marquette Business Credit announced it has funded a $6 million asset-based revolving line of credit for AMSCO Steel Company, a steel and aluminum processor and distributor, headquartered in Fort Worth, TX, with plant facilities in San Antonio.

“AMSCO has long relied on strong, local banking relationships, with institutions and individuals who knew us well and understood our business.  When our growth required additional working capital financing, Marquette stepped up with the same degree of individualized attention we were used to, coupled with broad industry knowledge and a quick grasp of the unique aspects of our business model.  With these tools, Marquette was able to structure a credit facility that provides far greater support for our working capital asset growth than we had ever had access to with our bank lines,”  said Stephen Sikes, Chairman and CEO AMSCO of Steel Company.

Marquette Business Credit provides asset-based loans to middle-market U.S. based companies with credit requirements from $1 million to15 million.  On a national basis and to a wide variety of industries, Marquette provides secured lines of credit against accounts receivable, inventory, machinery and equipment, real estate, along with cash flow supported term loans.

Marquette Business Credit is part of the Marquette Financial Companies, a multi-billion dollar diversified specialty finance and banking entity which is owned by the Pohlad Companies founded in the 1950’s by Carl R. Pohlad.  Throughout the decades, the Pohlad Companies business interests have expanded to include real estate, technology, retail, entertainment and Major League Baseball with the ownership of the Minnesota Twins. 

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