CIBC Bank USA’s Asset Based Lending Provides $25 Million Senior Revolving Credit Facility to MCI Ventures, Inc. (d/b/a Mr. Crane)

CIBC Bank USA Asset Based Lending has provided a new $25 million senior revolving credit facility to MCI Ventures, Inc. and subsidiaries (d/b/a Mr. Crane). The financing will refinance existing debt, repay equipment notes, and support the purchase of rental equipment to fuel the company's continued growth.

Based in Orange, California and founded in 1969, Mr. Crane is a leading provider of crane and equipment rental services for firms across a variety of industries, including general construction, tower crane and hoist services, wind and solar power, tilt-up construction, civil construction, infrastructure, industrial and energy sectors throughout the western United States. Through its sister company, Inquipco, they also offer a broad fleet of bare rental options for rough terrain, crawler, and carry deck cranes.

"We are excited to partner with Mr. Crane and Inquipco to help them access the capital they need to strengthen their business and support their long-term success", said Ramsey Naber, Regional Originations Manager, CIBC Bank USA Asset Based Lending. "Every client has unique financing needs, and our role is to provide tailored solutions that help businesses invest with confidence and pursue their growth ambitions." The transaction reflects CIBC Bank USA's ongoing commitment to delivering tailored asset-based financing solutions that help equipment rental companies across North American achieve their growth objectives.

At CIBC, our U.S. Asset-based Lending team specializes in crafting financing solutions specifically for middle-market business owners and executives, and our private equity partners. We provide creative and flexible senior credit facilities that include Revolving Lines of Credit and Term Loans from $10,000,000 to $75,000,000 primarily related to acquisitions, recapitalizations, refinances, and turnarounds, while also delivering a powerful array of banking products and services through CIBC Bank USA.