An Ohio based provider for Inspection and Quality services for the manufacturing sector received an $1,400,000 asset based line of credit on its accounts receivable from mBank Business Credit the Asset Based lending division of mBank.

The firm was looking for a more attractive financing arrangement than the one currently provided by a non-bank lender. mBank Business Credit management met the ownership team and heard their plans and found a way to meet their financial needs going forward. As they continue their positive progression, mBank Business Credit can transition the firm to a more traditional bank line of credit. Thereby making the mBank Business Credit solution a permanent solution for the client.

mBank Business Credit is the Asset Based Lending Division of mBank and provides lines of credit up to $7,500,000 for companies in transition due to rapid growth, acquisition, recapitalization, or in turnaround.

Headquartered in Manistique, Michigan, mBank is the principal subsidiary of Mackinac Financial Corporation whose common stock is traded on the NASDAQ stock market as “MFNC.” With assets in excess of $980 million, the community bank empowers individuals and small- to medium-sized businesses with smart financing and depository solutions for peace of mind.