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Presidential Financial Corporation Announces Loan with Cleveland Metal Exchange

December 06, 2017, 08:00 AM
Filed Under: Metals and Mining

Presidential Financial Corporation announced it has provided a $20 million working capital facility to CME Acquisitions, LLC dba Cleveland Metal Exchange. Headquartered in Twinsburg, Ohio, Cleveland Metal Exchange is a national distributor of stainless steel and aluminum products throughout the United States and Canada. The funds were used to refinance the payoff to an existing lender, provide additional working capital, and help facilitate further business expansion. The transaction was completed on December 5, 2017.

Headquartered in Atlanta with offices in Chicago, Cleveland, Dallas and Phoenix, Presidential Financial Corporation provides customized and flexible financing solutions to growing businesses nationwide. Offering lines of credit of up to $30 million, Presidential Financial Corporation provides working capital and term loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.

PFC is owned by MidFirst Bank, one of the nation’s largest privately held banks with more than $14.9 billion in assets. This unique structure gives PFC the flexibility of a finance company with the financial backing and stability of a bank.

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