mBank Business Credit funded a $2.5 million line of credit for an Illinois-based manufacturer of drainage piping and plastic tubing.
Mackinac Financial, the holding company for mBank, consummated the all-stock merger of Alpena, MI-based First Federal of Northern Michigan Bancorp with and into Mackinac.
mBank Business Credit provided a $750,000 asset-based line of credit on accounts receivable to an Illinois-based manufacturer for the print and converting industries.
mBank Business Credit provided a $1.4 million asset-based line of credit on accounts receivable to an Ohio-based provider of inspection and quality services in the manufacturing sector.
mBank’s asset-based lending division, Mackinac Commercial Credit, formally changed its name to mBank Business Credit, effective February 01, 2018.
Mackinac Commercial Credit provided $3.06 million in credit facilities to an Illinois-based manufacturer of safety storage facilities.