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Mackinac Commercial Credit Funds $2.9MM ABL to Parts Manufacturer

January 26, 2016, 07:00 AM
Filed Under: Manufacturing

A Michigan-based precision parts manufacturer was restructuring its balance sheet and raising additional capital. It was seeking a new lender that could help them leverage their balance sheet assets and provide a working capital line to complete their recapitalization. Mackinac Commercial Credit (MCC) met with management and reviewed the future plans of the firm. By leveraging the accounts receivable, inventory and equipment in one facility, Mackinac Commercial Credit provided the final piece to help put their restructuring plan in place.

Mackinac Commercial Credit is the Asset Based Lending Division of mBank and provides lines of credit up to $5 million for companies in transition due to rapid growth, acquisition, lack of capital, or in turnaround. Headquartered in Manistique, Michigan, mBank is the principal subsidiary of Mackinac Financial Corporation.

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