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First Business Bank’s Asset-Based Lending Team Funds $10MM Credit Facility

December 13, 2023, 07:12 AM
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Topic: Industry News

Michael Doyle, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announced a recently closed and funded $10,000,000 revolving line of credit and equipment term loan for the acquisition of an automotive testing services company in Colorado.

The Asset-Based Lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Its financing assists these companies with a turnaround, a restructuring, to accommodate an acquisition, or if experiencing rapid growth.

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