MidFirst Business Credit Announces New Lending Relationship with Ullman Oil Company, LLC
ATLANTA – MidFirst Business Credit (MFBC) announced it has provided $12.2 million in working capital and term-loan facilities to Ullman Oil Company, LLC. Ullman, located in Chagrin Falls, Ohio, is a full-service, value-added supplier and distributor of gasoline, diesel fuel, biodiesel, home heating oil and lubricants. The funds were used to refinance the payoff to an existing lender, provide working capital and help facilitate further business expansion. The transaction was completed on August 5, 2020.
“We are very excited to lead our company forward with the support of our new banking relationship partner,” stated Jennifer Berlin, CEO of Ullman Oil Company. “With MidFirst as a partner, our team can focus on business growth and our unwavering commitment to our valuable customers. During the refinancing process, MidFirst Bank succeeded at understanding our business and its unique needs and went outside of the box in order to meet those needs. Their professionalism, speed from term sheet to closing and support during the transaction were impressive, and they made the process very easy for our team at Ullman Oil.”
Dennis Schlesner, MFBC president, added, “We are very pleased to begin a long-term relationship with Ullman Oil, and we look forward to being their bank for years to come.”
Headquartered in Atlanta with offices in Chicago, Dallas, Detroit, Los Angeles, Nashville and Phoenix, MidFirst Business Credit provides customized and flexible financing solutions to growing businesses nationwide. Offering lines of credit of up to $30 million, MidFirst Business Credit provides working capital and term-loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.
MFBC is owned by MidFirst Bank, the nation’s largest privately held bank with more than $24 billion in assets. This unique structure gives MFBC the flexibility of a finance company with the financial backing and stability of a bank.