Michael Doyle, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announced a recently closed and funded $5.5 million revolving line of credit and equipment term loan for a contract drilling services company seeking to refinance.
The Asset-Based Lending team provides asset-based loans to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $18,000,000. Its financing assists these companies with a turnaround, a restructuring, to accommodate an acquisition, or if experiencing rapid growth.