Bank of Ann Arbor ABL Group Closes $4.5MM Line of Credit
June 6, 2024
Source: Bank of Ann Arbor
An Illinois-based consumer products packager needed a new lender. Their previous lender was purchased by a large regional bank and the relationship had soured. To complicate matters there was a tight time frame to close the deal. The Bank of Ann Arbor was able to close the transaction within 35 days of a signed proposal letter. The collateral included A/R, Inventory, equipment, and real estate.
The firm chose The Bank of Ann Arbor's Asset Based Lending group as it provided their answer both for short term funding and as a bridge to a long-term relationship as a Bank of Ann Arbor client.
Bank of Ann Arbor
At Bank of Ann Arbor, we love to help. We are a full-service bank so we can meet all your business and personal banking needs. Headquartered in Downtown Ann Arbor, we believe in a customized team approach.
Bank of Ann Arbor has 18 locations in Michigan, serving Washtenaw, western Wayne, Livingston and Oakland Counties with total assets over $3.3 billion and assets under management of more than $2 billion. Our subsidiary UniFi Equipment Finance has a national presence in the small ticket vendor leasing market.
The firm chose The Bank of Ann Arbor's Asset Based Lending group as it provided their answer both for short term funding and as a bridge to a long-term relationship as a Bank of Ann Arbor client.
Bank of Ann Arbor
At Bank of Ann Arbor, we love to help. We are a full-service bank so we can meet all your business and personal banking needs. Headquartered in Downtown Ann Arbor, we believe in a customized team approach.
Bank of Ann Arbor has 18 locations in Michigan, serving Washtenaw, western Wayne, Livingston and Oakland Counties with total assets over $3.3 billion and assets under management of more than $2 billion. Our subsidiary UniFi Equipment Finance has a national presence in the small ticket vendor leasing market.
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