Wintrust Business Credit (WBC) closed a new $25,000,000 ABL line of credit for a Midwest-based importer and distributer of frozen seafood. The company distributes a wide variety of both traditional and ethnic seafood to restaurants and wholesalers in the Midwest and southeastern United States. The company had experienced a significant amount of organic growth over the previous year and needed to increase the size of its line credit of credit to assist with its growing working capital financing needs. The company’s incumbent bank was unable to provide the larger line of credit due to its own capital challenges.
 
According to Andy Hall, WBC’s National Portfolio Manager, “We were immediately impressed with the company’s leadership team and how they have managed their recent growth. We look forward to partnering with the company for years to come.” WBC National Head of Originations Jason LeuVoy added, “WBC has successfully worked with a number of other companies in the frozen seafood space, which allowed us to quickly evaluate the situation and structure a transaction. I couldn’t be happier with how our team was able to seamlessly execute this transaction for our new client.