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Mackinac Commercial Credit Announces New Funding Agreements

May 26, 2017, 08:00 AM
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Recently an Ohio-based non-profit firm was in need of a working capital line of credit to replace the existing facility they had with a regional bank. Mackinac Commercial Credit (MCC) met with their management team to learn more about them. MCC was impressed with the long standing service, roots and tradition they hold in their community. Upon review, MCC was able to furnish a funding platform that provided the financial backing the non-profit needed to continue with future growth plans.    

A downstate Illinois based manufacturer of safety storage facilities received an $1,750,000 asset based line of credit on its accounts receivable and inventory and a $1,310,000 term loan from Mackinac Commercial Credit last month.  The firm had suffered some setbacks and its long time existing bank had asked them to exit.  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. 

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