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Mackinac Commercial Credit Funds ABL for Printing, Content Management Co.

February 09, 2017, 06:00 AM
Filed Under: Printing

A Michigan based printing and content management firm received an $750,000 asset based line of credit on its accounts receivable from Mackinac Commercial Credit this month. The firm has been restructuring its operations and evolving to meet the needs of its clients when its existing bank ran out of patience and requested to be paid off. MCC was called in by the bank to be a replacement lender for their client. MCC management met the ownership team and heard their turnaround plan and found a way 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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