First Business Bank’s asset-based lending team announces a recently closed and funded $6.85 million revolving line of credit, CapEx equipment line of credit and real estate term loan to fund the refinance of a Texas manufacturer of precision-machined metal parts.
“We’re pleased to provide this refinancing solution for a well-established manufacturer in the precision machinery sector,” Michael Doyle, vice president – asset-based lending at First Business Specialty Finance, a subsidiary of First Business Bank, said. “This facility positions the company for continued growth and gives them the financial flexibility to capitalize on future opportunities.”
“This transaction demonstrates our commitment to expanding our asset-based lending capabilities as we continue to grow our ABL team,” Steve Bishop, president – asset-based lending at First Business Bank, said. “We’re pleased to support companies during critical transition periods and help businesses navigate these pivotal moments to achieve their growth objectives.”
