Commercial Finance Partners closed a $2 million asset-based loan for a national prescription drug supplier headquartered in Michigan. The borrower, faced with restrictive bank covenants, sought out Commercial Finance Partners to provide a solution that would have fewer restrictions and increased availability for growth.
“By keeping the rate competitive and comparable with the bank’s rate and providing a structure that eliminated the covenants and growth inhibitors, we were able to help the client’s continued growth trajectory and success” Bill Krebsbach, VP of business development for Commercial Finance Partners, said. “Our specialization in medical related transactions also helped us provide the value needed to win the client relationship and close within a 30-day window, successfully alleviating the borrower from inquiring a renewal fee from the previous credit facility.”
Commercial Finance Partners provides funding solutions for small to middle market companies seeking non-traditional sources of capital and working capital. The company offers accounts receivable financing, SBA 7a and 504, asset-based loans, equipment financing, real estate loans, and other non-traditional loan products.
