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Mackinac Commercial Credit Funds $3MM ABL Credit Line to Metals Recycler

July 28, 2014, 07:18 AM
Filed Under: Recycling

Mackinac Commercial Credit has funded a $3MM asset-based line of credit to an Arkansas based metals recycler.  The recycler had made substantial investments in plant and equipment but needed more time to effect is restructuring plan. After meeting with management and understanding the future plans of the firm, MCC was able to pay off the current lender and supply the firm with availability to help them complete their restructuring plans.

Mackinac Commercial Credit is a wholly owned subsidiary of Mackinac Financial Corporation and is a national asset-based lender providing lines of credit up to $4 million with representation in Chicago, Dallas, New Jersey and Detroit.

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