First Business Bank‘s asset-based lending team has closed and funded an $11.43 million credit facility to support the acquisition of an Indiana manufacturer specializing in roof trusses and wall panels.
The financing package included a revolving line of credit, equipment term loan, and real estate term loan. Mike Colloton, Vice President of Asset-Based Lending at First Business Specialty Finance, noted the transaction was completed in just 23 business days from start to finish to meet the seller’s expedited timeline.
“The client required an expedited timeline to meet the seller’s deadline, and the transaction was completed in just 23 business days from start to finish, demonstrating our team’s ability to move quickly and efficiently to meet time-sensitive client needs,” Colloton said.
First Business Bank‘s Asset-Based Lending team provides nationwide financing to businesses in transition with sales ranging from $10 million to more than $100 million and financing requirements up to $24 million. The team’s lending solutions support companies through turnarounds, restructurings, business acquisitions, and rapid growth scenarios.
