Daily News: July 28, 2014

MCC Funds ABL Credit Line to Metals Recycler

Mackinac Commercial Credit announced it funded a $3 million ABL line of credit to an Arkansas-based metals recycler.

The recycler had made substantial investments in plant and equipment but needed more time to effect is restructuring plan. After meeting with management and understanding the future plans of the firm, MCC was able to pay off the current lender and supply the firm with availability to help it complete their restructuring plans.