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Mackinac Commercial Credit Funds ABL Line of Credit to Distributor

August 02, 2016, 07:27 AM
Filed Under: Distribution

An Ohio-based electrical supplies distributor received an SBA loan when the new owners purchased the company several years ago but did not have the working capital facility they needed to help the company grow. Mackinac Commercial Credit was called in to take a look and worked with the owners, their consultant and the SBA lender to create a working capital line of credit which will help the firm fill the orders that are pouring into their company. The line is expected to grow as they continue to expand their footprint in the Ohio market.

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. With assets in excess of $870 million, the community bank empowers individuals and small- to medium-sized businesses with smart financing and depository solutions for peace of mind.

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