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mBank Business Credit Funds $1.4MM Line of Credit for Ohio Inspection Firm

March 07, 2018, 07:00 AM
Filed Under: Manufacturing

An Ohio based provider for Inspection and Quality services in the manufacturing sector received an $1,400,000 asset based line of credit on its accounts receivable from mBank Business Credit the Asset Based lending division of mBank.

The firm was looking for a more attractive financing arrangement than the one currently provided by a non-bank lender. mBank Business Credit management met the ownership team and heard their plans and found a way to meet their financial needs going forward. As they continue their positive progression, mBank Business Credit can transition the firm to a more traditional bank line of credit. Thereby making the mBank Business Credit solution a permanent solution for the client.

mBank Business Credit is the Asset Based Lending Division of mBank and provides lines of credit up to $7,500,000 for companies in transition due to rapid growth, acquisition, recapitalization, or in turnaround. 

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