mBank announced that its asset based lending division, Mackinac Commercial Credit, has formally changed its name to mBank Business Credit, effective February 01, 2018. The headquarters is currently located in Troy, MI and will be relocating to the mBank branch in Birmingham MI.

The new name reflects the fact that mBank Business Credit is, and has been, a division of mBank that provides asset based lines of credit to companies outside of traditional bank financing. The collateral-backed lending solutions are ideal for small to mid-sized companies and second-stage companies that need alternative cash flow strategies to meet the financial obligations of the business.

Ed Lewan, President of mBank Business Credit, stated: “We are very proud of the fact that we are an asset based lending company backed by a bank of this caliber. This change will increase awareness that we are a part of a traditional financial institution. This strengthens the level of service we can propose to our clients as we help them succeed. Our diverse background and unique position enables us to understand and assist in the execution of your business plan.”

The team serving the Midwest region of the United States, mBank Business Credit will now be headquartered at 260 East Brown St., Suite 300, Birmingham, Michigan. The office located in Chicago, IL will not relocate.