Let Us Help! – Several of the stories below did not involve a loan from my organization. Deals at the bottom were actually funded by Citizens Bank Business Finance recently.
Frankly, deals that fit a bank-based asset based loan profile are a fairly low percentage. Many times an introduction to a professional with experience in solving your company’s problems is the best answer. Reach out to us via. the “Contact Us” page, directly at Brian.Banning@AssetBasedLoan.US or 313-318-0019. Let us provide your financing or connect you with someone who can!
Turnaround:
Company with $2 million inventory adjustment (on $4.5 million) ended up in its’ bank’s workout area. Through insertion of consultant, the problem was identified and fixed. Company refinanced with Citizens and the assistance of an SBA machinery and equipment term loan.
Automotive Aftermarket:
Company well beyond terms with major supplier and being kicked out by its’ existing bank. Upon prospect approval, we met with the supplier arranged financing to bring current between bank funding and note to supplier. Company refinanced with Citizens.
Distressed Automotive:
Automotive manufacturer/supplier with good customer relationships but a bad banking relationship. Worked-out process where customers guaranteed payment of accounts receivable and agreed to buy the inventory (good asset based loan solution since it bullet-proofs the working capital assets). Company refinanced with Citizens.
Distressed Syndication:
Bank group at odds and unable to meet borrower’s needs. Introduced distressed debt fund to purchase three of five bank’s positions. Twelve months later refinanced with Citizens as part of the lending group as a participant.
Perceived Bad Banking Relationship:
Distressed company felt bank’s new covenants, monitoring and pricing were punitive. Review of relationship resulted in conclusion their bank was treating them very fairly. Prospect remained with bank and avoided the disruption of moving relationships.
Company in Receivership:
Introduced equity sponsor to purchase out of receivership. Equity sponsor brought own money and financing.
Acquisition:
Introduced local fund focused on making loans to manufacturers within the city limits to supplement a middle market lending solution with a last-out term loan that allowed the deal to close.
Company Heavy in Exports:
Introduced EXIM bank financing. Government supported program to assist bank lending to companies that are heavy in exports. We refinanced a three-bank deal under one bank.
Community Bank Solution:
Small community bank had a customer growing beyond their lending ability. Citizens provided working capital loans; community bank bought a small piece, continued to provide machinery and equipment loans and kept the deposit accounts.
Fuel Distribution Company Seeking Capital to enter Alternative Home Fuels Market:
Introduced to an investment banker who assisted with the refinance.
Distressed Plastic Injection Molder Seeking Real Estate Refinance:
Plastic injection molder had arranged a sale-leaseback at what we knew to be a below-market rate. Introduced to an investment banker with deep book of real estate lenders. Borrowed more money than what was arranged on the sale-leaseback and kept control of their real estate.
CITIZENS BANK BUSINESS FINANCE DEALS FUNDED
Manufacturer of sintered metal components
$5,000,000 Revolving Line of Credit
$2,500,000 Equipment Term Loan
Manufacturer/Fabricator of metal products
$3,750,000 Revolving Line of Credit
$1,250,000 Equipment Term Loan
Tier One manufacturer of automotive parts
$5,000,000 Revolving Line of Credit
$875,000 Equipment Term Loan
Distributor of automotive after market parts
$3,500,000 Revolving Line of Credit
Tier One manufacturer of automotive metal stampings/fabrication parts
$3,000,000 Revolving Line of Credit
Commercial Printer
$3,500,000 Revolving Line of Credit
$500,000 Equipment Term Loan
Manufacturer and Fabricator of Metal Products
$6,500,000 Revolving Line of Credit
$3,346,000 Fixed Asset Term Loan
Manufacturer of Electronic Circuit Boards and Assemblies
$3,000,000 Revolving Line of Credit
Full Truck Load and LTL Transportation Company
$5,500,000 Revolving Line of Credit/Letters of Credit
Specialized Metal Brazing, Welding and Heat Treating
$2,200,000 Equipment Term Loan
$1,750,000 Revolving Line of Credit
Importing, Finishing, Assembly, Welding Auto Components
$5,500,000 Revolving Line of Credit
Manufacturer of Paperboard Trays & Bowls
$4,500,000 Revolving Line of Credit
$2,900,000 Equipment Term Loan
$750,000 Capital Expenditures Line