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First Business Bank’s Asset-Based Lending Team Funds $15 Million Credit Facility For Michigan Acquisition
March 13, 2024
Source: First Business Bank
MADISON, WI – March 13, 2024 – Michael Doyle, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $15,000,000 revolving line of credit to fund the acquisition of a Michigan-based industrial distributor of manufacturing supplies and metalworking products.
The Asset-Based Lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Our financing assists these companies with lending solutions to accomplish turnarounds, restructurings, business acquisitions, assist with rapid growth, and more.
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank.
