FirstMerit Bank Business Credit Closes Two Transactions
FirstMerit Bank Business Credit announced it closed a new $6 million revolving credit loan facility to Falls Stamping and Welding Company on January 10, 2012.Proceeds of the facility were used to refinance existing debt and provide additional working capital.
Falls Stamping and Welding Company, headquartered in Cuyahoga Falls, OH, is engaged in metal stamping, design and fabrication primarily related to the heavy truck industry.
FirstMerit Bank Business Credit also closed a new $7.5 million revolving credit loan and term loan facility to American Micro Products, Inc. on February 27, 2012. Proceeds of the facility were used to refinance existing debt and provide additional working capital.
Based in Batavia, OH, American Micro Products, Inc. manufactures high precision machined components and connectors for a variety of industries including aerospace, automotive, medical, electronics and communication.
FirstMerit Bank Business Credit provides working capital and term loan facilities to middle-market companies for acquisitions, LBOs, MBOs recapitalizations, rapid growth, seasonal working capital build-up and turnaround situations.