MidFirst Business Credit Announces New Lending Relationship with Control Solutions, LLC
ATLANTA – MidFirst Business Credit (MFBC) announced it has recently provided a $7 million working capital facility to Control Solutions LLC (Control). Headquartered in Aurora, Illinois, Control manufactures a complete line of electronic commercial drive controllers and battery charging systems. These systems are used in shopping cart retrieval systems, mobility scooters, motorized gun turret control systems and power door systems for the military, and electronic lift systems for medical beds and gurneys for ambulances. The funds were used to refinance existing loans and provide additional working capital to help facilitate further business expansion.
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.
MidFirst Business Credit is owned by MidFirst Bank, the nation’s largest privately held bank with more than $36.5 billion in assets. This unique structure gives MFBC the flexibility of a finance company with the stable financial backing of a bank.