MB Business Capital Announces $10 Million Credit Facility for Specialty Steel

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MB Business Capital provided a new $10,000,000 senior credit facility to Houston, Texas-based Specialty Steel Supply, LLC

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“We are pleased to partner with MB. Their experience in the metals industry made it a stress-free transaction and will enable us to continue with our rapid growth since acquiring the company from Carpenter Technologies,” said Paul Haggar, President of Specialty Steel Supply, LLC.

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $10,000,000 senior credit facility to Houston, Texas-based Specialty Steel Supply, LLC (“Specialty”). Specialty is a distributor of stainless and nickel alloy steel bars to the oilfield, energy, aerospace, defense, industrial, and automotive sectors. MB’s credit facility was used to refinance senior indebtedness and to fund working capital needs going forward.

“MB Business Capital knows the metal industry very well and we were able to provide a lending facility that provides Specialty with the capital it needs. We are very happy to welcome Specialty Steel to MB,” said Michael Sharkey, President of MB Business Capital.

“We are pleased to partner with MB. Their experience in the metals industry made it a stress-free transaction and will enable us to continue with our rapid growth since acquiring the company from Carpenter Technologies,” said Paul Haggar, President of Specialty Steel Supply, LLC.

About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $35 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.

About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $20 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com

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Gemma Bolech
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