MB Business Capital provided a new $14 million senior credit facility to Smart Chemical Services.

Amarillo, TX-based Smart Chemical Services manufactures proprietary chemical products and provides services to the drilling, completion, water, oil field production, mid-stream processing, pipelines and fuel industries.

“We could not be more pleased with the MB team. The terms we closed with were exactly what they proposed. We had a short timeline and MB met our timeline and invested the resources to execute and introduced us to senior management so we could get to know them,” said C. Lloyd Brown, CEO and president of Smart Chemical Services.

Dallas-based Independent Bankers Capital Funds (IBCF) previously led an institutional mezzanine debt investment in Smart Chemical Services and provided the introduction of MB to Smart Chemical. IBCF focuses on mezzanine lending and purchasing equity securities issued by established lower-middle-market companies. They operate three small business investment companies licensed by the U.S. Small Business Administration.

“Based on our relationship with MB Business Capital, IBCF felt comfortable that they would recognize the unique value that Smart Chemical provides operators in today’s energy industry and move efficiently to close the transaction. We were very pleased with the entire process,” said Tom Hoyt, a partner at IBCF.

“We appreciate IBCF’s confidence in us and are excited to have a fine company such as Smart Chemical Services as a new customer,” said Michael Sharkey, president of MB Business Capital.