Mike Colloton, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announced a closed and funded $9.2 million revolving line of credit, equipment term loan and structured overadvance for the acquisition of a manufacturer of home building supplies.
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.