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MB Business Capital Provides $10MM Facility to Beocare

December 03, 2015, 07:51 AM
Filed Under: Textiles

MB Business Capital announced it recently provided a new $10 Million senior credit facility to Hudson, North Carolina based Beocare, Inc. and their affiliate Shelby Elastics, LLC located in Shelby, NC. Beocare develops and produces medical textiles used primarily in long-term care facilities and hospitals. They are the leading domestic contract manufacturer of knitted textile products for use in maternity care, incontinence care, surgical care and orthopedic care. Proceeds of the facility were used to fund working capital needs.

Michael Sharkey, President of MB Business Capital says “We have proven experience financing textile companies.  As a result, we understand the changing dynamics in the industry and the success of manufacturers such as Beocare.  We were able to provide Beocare with a customized structure that supports their continued growth.”

Peter Vanderbruggen, CEO of Beocare says “We feel MB Business Capital truly understands the unique financial needs of a middle-market, fast-growing company such as BeoCare. They offered us a tailored made solution which will allow us to take our company to the next level”

MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois.  MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.

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