MidFirst Business Credit Announces New Lending Relationship with Coast Medical Service, Inc.
ATLANTA – MidFirst Business Credit (MFBC) announced it has provided a $15 million working capital facility to Coast Medical Service, Inc. (“Coast Medical”). Headquartered in Los Angeles, Coast Medical is a healthcare staffing company that recruits and hires nurses for placement in both short-term and longer-term assignments at hospitals and other medical centers. The funds were used to refinance their existing loan and provide additional working capital to help facilitate further business expansion. The transaction was completed on January 19, 2022.
Headquartered in Atlanta with offices in Nashville, Detroit, Chicago, Dallas, Phoenix and Los Angeles, MidFirst Business Credit provides customized, 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. This unique structure gives MidFirst Business Credit the flexibility of a finance company with the stable financial backing of a bank.
With $32.1 billion in assets and serving more than 900,000 customers, Oklahoma City-based MidFirst Bank is the largest privately owned bank in the country. MidFirst Bank has banking centers in Oklahoma, Arizona, Colorado and Texas, and provides commercial lending, wealth management, private banking and mortgage servicing nationally. MidFirst Bank also operates 1st Century Bank as a division of MidFirst Bank in Southern California.