New firm brings a relationship-first approach to structuring and arranging asset-based financing, targeting facilities of $7.5 million to $35 million for middle market companies.

CHICAGO, IL – November 9, 2026 – Maple Bay Business Capital today announced its launch as a commercial finance firm focused on asset-based products and services for middle market companies. Founded by Joe Fobbe, a Chicago asset-based lending executive with nearly 30 years of industry experience, Maple Bay focuses on revolving credit facilities and term loans of $7.5 million to $35 million to working capital intensive manufacturers and distributors.  

"Maple Bay Business Capital grew out of years of working alongside the most talented asset-based lenders in the country,” said Fobbe, Founder and CEO.   “Every business has its own story, and I enjoy working with entrepreneurial, family-owned, and investor-backed companies that are growing and evolving. I’m excited to continue what I’ve been doing my entire career and focus on this growing need to support businesses when they need senior debt capital the most."

Maple Bay approaches each financing focused on a company's assets, including accounts receivable, inventory, equipment, and real estate, as well as its cash flow. The firm works with founder- and family-owned businesses as well as companies backed by private equity firms, family offices, and independent sponsors, supporting needs ranging from growth and acquisitions to recapitalizations and refinancings.  Target companies generally have annual revenue of $25 million to $150 million.

Fobbe entered asset-based lending in Chicago with American National Bank (now part of JPMorgan Chase), served as Regional Sales Manager for PNC Business Credit, and joined Regions Business Capital in 2008. He then spent 10 years with MB Business Capital/Fifth Third Business Capital before joining Valley National Bank as SVP of Asset-Based Lending. He is a past President of the Turnaround Management Association’s (TMA) Chicago chapter and of the Commercial Finance Association (now SFNet) Midwest Chapter.

For more information, visit www.maplebaybusinesscapital.com.

About Maple Bay Business Capital

Maple Bay Business Capital is a Chicago-based commercial finance firm focused on revolving credit facilities and term loans for middle market companies. Built on a relationship-first approach, Maple Bay works with each company to structure financing around its assets, cash flow, and unique situation. Learn more at www.maplebaybusinesscapital.com.

Media Contact

Joe Fobbe, Founder & CEO
Maple Bay Business Capital
312-771-8933 · joe@maplebaybusinesscapital.com