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MB Business Capital Provides $7.65MM Credit Facility to Global Granite & Marble

August 09, 2016, 07:34 AM
Filed Under: Building Supplies

MB Business Capital recently provided a new $7.65 million senior credit facility to St. Louis, Missouri based Global Granite & Marble, LLC. Global Granite & Marble is an importer and wholesale supplier of premium quality natural stone and Caesarstone quartz and Neolith surfaces for commercial and residential building projects. Global currently has locations in four cities: St. Louis, Indianapolis, Louisville and Chicago. Proceeds of the facility were used to refinance existing debt, fund working capital needs and to support expansion plans.

“As the housing market continues to rebound and commercial and private spending on new and existing home improvements rises, companies such as Global Granite & Marble need more liquidity to meet customer demand. As Global Granite & Marble execute their expansion plans they needed a financial partner that understood their needs and strategy. MB Business Capital was able to create a flexible facility that will support their day to day needs as well as their plan for growth.” says Michael Sharkey, President of MB Business Capital.

“The team at MB listened to us and learned our business. Our business requires substantial financial resources to offer the best selection of material in each of our markets with the highest level of customer service. MB has provided an innovative financing solution to accommodate our expansion plans.” says Robert Ballard, CFO of Global Granite & Marble, LLC.

MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago.  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.

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