An Illinois based consumer products packager needed a new lender. Their previous lender was purchased by a large regional bank and the relationship had soured. To complicate matters there was a tight time frame to close the deal. The Bank of Ann Arbor was able to close the transaction within 35 days of a signed proposal letter. The collateral included A/R, Inventory, equipment, and real estate.
The firm chose The Bank of Ann Arbor's Asset Based Lending group as it provided their answer both for short term funding and as a bridge to a long-term relationship as a Bank of Ann Arbor client.