Investors Bank ABL, C&I Provides Pro Line Facility
Investors Bank’s ABL group and its C&I Lending unit structured an $12 million loan facility for the Pro Line Manufacturing Company, which produces and distributes high-quality footwear for sportsmen and sportswomen.
By joining together, Investors’ ABL and C&I lending teams have become a reliable one-stop banking resource for middle market companies.
The ABL team recently completed a $9 million revolver for Pro Line, which is based in Wayne, New Jersey. The C&I Lending group assisted the company in securing a $3 million commercial mortgage for its office and distribution facilities.
The Bank’s business lending units worked together to efficiently meet the client’s financing needs.
Investors’ ABL Group Manager David Viggiano said, “We are developing a superb level of synergy between the ABL and C&I teams in business lending. Our goal was to structure a loan facility that enabled the borrower to complete two financing transactions at the same time.”
The funds from the revolver will be used for ongoing working capital and general corporate needs, added Viggiano.