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MB Business Capital Provides $10MM for Ross Technology

December 06, 2018, 07:00 AM
Filed Under: Manufacturing

MB Business Capital, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of a $10,000,000 senior credit facility to Leola, Pennsylvania-based Ross Technology Corporation (Ross). Formed as a veteran-owned small business in 1962, Ross is a metal fabrication company specializing in architectural security, including blast-proof windows and doors used in U.S. embassies and other high-profile, high-security buildings; perimeter security, including wedges and fencing; industrial security, including heavy-duty cantilever racks; and “Safety Works,” which is a patented technology for slip-resistant flooring. MB’s credit facility was used to refinance senior indebtedness and to fund working capital needs going forward.

“MB Business Capital was able to provide Ross with a flexibly structured facility that met their financing needs. We are very happy to welcome them to MB,” said Michael Sharkey, President of MB Business Capital.

“MB was very flexible in tailoring a credit facility to meet our needs,” said Gary Brown, Chief Financial Officer of Ross Technology Corporation. “They provided the additional liquidity we needed to support our business growth.”

MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.

MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $20 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success.

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