MACKINAC COMMERCIAL CREDIT CLOSES TWO LOANS IN EARLY DECEMBER
A Michigan-based legal support services company obtained a $2,000,000 ABL line of credit to support there dynamic sales growth. The firm's community bank could not keep up with the rapid growth rate the company was experiencing. A trusted advisor call Mackinac into the deal and after an assessment of management and the collateral, a new loan was put into place in 3 weeks that paid off the bank and provided the necessary liquidity to allow the firm to continue its growth.
An Ohio-based commodity products distributor obtained a $1,000,000 ABL line of credit. The company was in need of a more flexible lending solution and the incumbent lender was only interested in factoring their accounts. Mackinac stepped in quickly and offered them a revolving asset based loan on their accounts receivable. The loan funded in 8 days after the field exam was completed.