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MB Business Capital Announces Funding to Support Klean Kanteen Growth

May 19, 2016, 07:45 AM
Filed Under: Manufacturing

MB Business Capital recently provided a new multi-million dollar senior credit facility to Chico, California based Klean Kanteen, Inc.  Founded in 2004, the family-owned and operated company designs and markets reusable stainless steel water bottles, food containers and other accessories which provide a safe, durable alternative to disposable plastic and aluminum single-use containers. As a global company serving over 40 countries worldwide, Klean Kanteen uses its reach to promote responsible business and drive positive change.  As a certified B Corp member of 1% for the Planet, Klean donates more than 1% of their annual sales to qualified nonprofits working to protect and promote the health of the planet. Proceeds of the facility were used to refinance existing debt and to fund working capital needs associated with Klean’s growth.

 “Klean Kanteen is a well known global brand that makes healthy, high-quality goods. MB Business Capital values the commitment that they have made to promote and encourage health, sustainability and environmental awareness. We are looking forward to a dynamic and long-lasting relationship with Klean Kanteen.” says Michael Sharkey, President of MB Business Capital.

Klean Kanteen CEO & President, Jim Osgood, says, “In the last three years, Klean’s business has nearly tripled.  And, we’ve been able to do this without an infusion of outside capital.  Our goal was to continue to fuel our significant growth organically so we needed a financial partner who believed in our mission, shared our commitment to responsible business and had the capability to provide large credit facilities that could meet our unique business needs.  MB provided exactly the portfolio of financial solutions and support we need for the next three years and beyond.”

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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