First Business Bank Funds $5.1M ABL for NJ Manufacturer

First Business Bank’s asset-based lending team closed and funded a $5.1 million credit facility to support the acquisition of a New Jersey industrial packaging manufacturer. The bank expanded the client’s existing financing to cover the full deal scope, combining a working capital line of credit with a real estate loan totaling $5.1 million.

The acquisition was described as expanding the buyer’s product offerings and extending geographic reach into new markets. First Business Specialty Finance, a subsidiary of First Business Bank, said the facility was structured to cover the real estate component so the company could begin operating quickly in its new market.