"MB Business Capital came through with a creative approach to providing us the liquidity and capital we needed and delivered in a tight timeframe. They closed what they proposed,” said Andy Sandberg, CEO and Founder of AMS Group, Inc.
CHICAGO (PRWEB) November 06, 2018
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9,680,000 senior credit facility to Fox River Grove, IL-based AMS Group, Inc. and affiliates (“AMS” or the “Company”). AMS is comprised of a coil steel distributor, a manufacturer of mold bases, and a manufacturer, processor and distributor of steel strapping used in packaging of steel and other industrial products. MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.
“MB Business Capital knows the metal industry. With over 20% of our current portfolio in metal-related industries, we truly understand the challenges metal companies face. The MB team crafted a facility that gives AMS the liquidity they need so management can focus on production and revenues,” said Michael Sharkey, President of MB Business Capital.
“With our business having been through a variety of changes and facing numerous growth opportunities, we needed the right banking partner who understood our past and shared our vision for the future. MB Business Capital came through with a creative approach to providing us the liquidity and capital we needed and delivered in a tight timeframe. They closed what they proposed,” said Andy Sandberg, CEO and Founder of AMS Group, Inc.
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 $50 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