Credit turning the corner

Recently, Grow Michigan worked with a senior lender to provide $2,000,000 of mezzanine financing to a tubing manufacturer. The manufacturer was underperforming their projections and consequently fell behind with their vendors. This problem was accentuated when they were awarded a large new contract that required the build-out of a new production line that they could not finance. Grow Michigan stepped in to provide this financing which allowed them to service the newly awarded business. With the additional revenues, the business was able to get current with their vendors and avoid a troubled situation with their senior lender. If you have clients requiring additional financing to turn the corner, we can help.

Credit turning the corner