MB Business Capital provided a new $15.5 million senior credit facility to Texarkana, AR-based Tri-State Iron & Metal.

Tri-State is a third generation, family-run business which has been in business since 1947. It is a metals recycler that recycles both ferrous and nonferrous materials, as well as a small amount of paper and plastic. MB’s credit facility will be used going forward to fund working capital needs and acquisitions.

“MB Business Capital understands and has extensive experience working with cyclical companies like Tri-State. We creatively structure facilities that allow our borrowers to have full control over their availability requirements. We are very happy to welcome Tri-State Iron & Metal to MB,” said Michael Sharkey, president of MB Business Capital.

Butler Snow Advisory provided assistance on the new transaction.