Daily News: January 9, 2019

mBank Business Credit Funds $1.25MM LoC for Medical Distributor


mBank Business Credit provided a $1.25 million line of credit to a medical products distributor based in Illinois.

The company was looking for a new lender as its existing bank had just gone through a merger, and it became “too small” for the new bigger bank.

mBank senior management visited the client at its headquarters, reviewed its plans and met with all management. mBank then presented the company with a customized financial package that met its needs.

The loan closed in the 4th quarter of 2018.

mBank Business Credit is the asset based lending division of mBank and provides lines of credit up to $10 million for companies in transition due to rapid growth, acquisition, recapitalization or a turnaround.