FirstMerit Bank Business Credit announced the closing of two recent asset-based loans. The transactions include:

Cleaning Solutions, LLC (aka Paramount Building Solutions)

FirstMerit Bank Business Credit announced it closed a new $7.5 million revolving credit loan and capital expenditure loan facility to Cleaning Solutions, LLC on November 3, 2014.  Cleaning Solutions, LLC is a portfolio company of LaSalle Capital Group based in Chicago, Illinois.  Proceeds of the facility were used to refinance existing debt and provide working capital.   

Cleaning Solutions, LLC, headquartered in Phoenix, Arizona, provides janitorial services primarily to grocery stores, large-format retailers and rental car agencies located throughout the United States.

BNZ Materials, Inc.

FirstMerit Bank Business Credit closed a new $6 million revolving credit loan and capital expenditure loan facility to BNZ Materials, Inc. on November 3, 2014.  Proceeds of the facility were used to refinance existing debt and provide working capital.   

BNZ Materials, Inc., headquartered in Littleton, Colorado, manufactures a range of specialty industrial insulations, including insulated fire brick and board and sheet structural insulation used as hot face refractory lining or as back-up insulation in furnaces, flues, kilns and similar high temperature industrial equipment.

FirstMerit Bank Business Credit provides working capital and term loan facilities to middle–market companies for acquisitions, LBO’s, MBO’s recapitalizations, rapid growth, seasonal working capital build-up, and turnaround situations.