Mackinac Commercial Credit (MCC) provided a $1.5 million asset-based line of credit for a Michigan-based commodity re-seller based on its accounts receivable from. The firm had suffered some setbacks and its existing bank had asked them to exit.

MCC management met the ownership team and heard its turnaround plan and found a way to meet its financial needs going forward. As the company continues its positive progression, MCC can transition the firm to a more traditional bank line of credit, making the MCC solution a permanent solution for the client.

Mackinac Commercial Credit is the asset-based lending division of mBank and provides lines of credit up to $5 million for companies in transition due to rapid growth, acquisition, recapitalization or turnaround.