Mackinac Commercial Credit Funds $2.5MM ABL Facility
Mackinac Commercial Credit announced the funding of a $2.5 million ABL credit line for a MI-based manufacturer of polyethylene products.
The company had expanded sales rapidly with mixed bottom line results. The firm’s bank became uncomfortable with the growth and was reluctant to expand their credit line. Mackinac was called in and met with management and reviewed their facility and projections.
By leveraging the accounts receivable, inventory and equipment within a borrowing base, Mackinac was able to pay off the bank and provide the firm with extra availability to help them fund their growth and complete the turnaround of their operations.