Wintrust Business Credit closed a $25 million ABL line of credit for a Midwest-based importer and distributer of frozen seafood. The company had experienced a significant amount of organic growth over the previous year and needed to increase the size of its line of credit to assist with its growing working capital financing needs. The company’s incumbent bank was unable to provide the larger line of credit due to its own capital challenges.
“We were immediately impressed with the company’s leadership team and how they have managed their recent growth,” Andy Hall, national portfolio manager of Wintrust Business Credit, said. “We look forward to partnering with the company for years to come.”
“WBC has successfully worked with a number of other companies in the frozen seafood space, which allowed us to quickly evaluate the situation and structure a transaction,” Jason LeuVoy, national head of originations for Wintrust Business Credit, said. “I couldn’t be happier with how our team was able to seamlessly execute this transaction for our new client.”
