MidFirst Business Credit Announces New Lending Relationship with iT1 Group
ATLANTA – MidFirst Business Credit (MFBC) announced it has recently provided a $25 million working capital facility to iT1 Group. Headquartered in Tempe, AZ, iT1 Group is a value-added reseller of computers and hardware and custom software solutions that combines business relationships with in-depth product knowledge to provide industry leading IT services and solutions. 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 $33.3 billion in assets. This unique structure gives MFBC the flexibility of a finance company with the stable financial backing of a bank.