Mackinac Commercial Credit funded three transactions totaling $14.3 million this summer. Outlined below are brief descriptions of the deals:
- $7.5 million participation in a $40 million line of credit to an Illinois-based specialty finance company
- $5.5 million ABL line of credit to an Ohio-based manufacturer of pressure sensitive roll labels
- $1.3 million ABL line of credit to an Indiana-based iron foundry
Mackinac Commercial Credit is the asset-based lending division of mBank and provides lines of credit for companies in transition due to rapid growth, acquisition, recapitalization or in turnaround.