Maple Bay Business Capital launched as a commercial finance firm focused on asset-based products and services for middle market companies. Founded by Joe Fobbe, a Chicago asset-based lending executive with nearly 30 years of industry experience, Maple Bay focuses on revolving credit facilities and term loans of $7.5 million to $35 million to working capital intensive manufacturers and distributors.
“Maple Bay Business Capital grew out of years of working alongside the most talented asset-based lenders in the country,” Fobbe said. “Every business has its own story, and I enjoy working with entrepreneurial, family-owned and investor-backed companies that are growing and evolving. I’m excited to continue what I’ve been doing my entire career and focus on this growing need to support businesses when they need senior debt capital the most.”
Maple Bay approaches each financing focused on a company’s assets, including accounts receivable, inventory, equipment and real estate, as well as its cash flow. The firm works with founder- and family-owned businesses as well as companies backed by private equity firms, family offices, and independent sponsors, supporting needs ranging from growth and acquisitions to recapitalizations and refinancings. Target companies generally have annual revenue of $25 million to $150 million.
Fobbe entered asset-based lending in Chicago with American National Bank (now part of JPMorgan Chase), served as regional sales manager for PNC Business Credit, and joined Regions Business Capital in 2008. He then spent 10 years with MB Business Capital/Fifth Third Business Capital before joining Valley National Bank as senior vice president of asset-based lending. He is a past president of the Turnaround Management Association’s (TMA) Chicago chapter and of the Commercial Finance Association (now SFNet) Midwest Chapter.
