mBank Business Credit provided a $2.5 million increase to $10 million in a $90 million line of credit to an Illinois-based finance company.
The company had a multi-bank line of credit and had been experiencing strong growth in its markets. mBank initially entered the transaction as the second bank in a then $40 million line of credit supported by accounts receivable. mBank Business Credit subsequently increased its exposure and several other banks have been added to the lending group.
mBank Business Credit is the asset based lending division of mBank and provides lines of credit of up to $10 million for companies in transition due to rapid growth, acquisition, recapitalization or a turnaround.
