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Mackinac Commercial Credit Funds $2.5MM ABL for Biosciences Firm

December 20, 2016, 07:00 AM
Filed Under: Biologics

An Ohio based Biosciences firm received an $2,500,000 asset based line of credit on its accounts receivable from Mackinac Commercial Credit this month. The firm was involved in a restructuring and turnaround after the current ownership acquired the firm. MCC was called in to provide a working capital line of credit as the finishing touch to their turnaround story. MCC management met the ownership team and both sides saw a perfect fit to meet their financial needs going forward. As they continue their positive progression, MCC can transition the firm to a more traditional bank line of credit. Thereby making the MCC solution a permanent solution for the client.

Mackinac Commercial Credit is the Asset Based Lending Division of mBank and provides lines of credit up to $5,000,000 for companies in transition due to rapid growth, acquisition, recapitalization, or in turnaround. 

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