The asset-based lending (ABL) group at Bank of Ann Arbor has successfully closed three new client transactions, providing ABL lines of credit totaling $9.75 million, as well as $3.4 million in commercial real estate mortgage (CREM).
- A Michigan based plastic injection molder, $3.5 million ABL line of credit
- A Michigan based stamper, $4.5 million ABL line of credit and $3.4 million CREM
- An Ohio based steel distributor, $1.75 million ABL line of credit
The companies selected The Bank of Ann Arbor’s Asset Based Lending group because it offered an effective solution for their immediate funding needs and served as a foundation for establishing a long-term banking relationship.
