Huntington Business Credit
Asset Based Lending
Whether your goal is financing for growth, acquisitions, recapitalizations, or turnaround situations, we can help optimize your borrowing capacity. Huntington Business Credit (HBC) specializes in creative asset-based lending solutions for middle market and large corporate clients nationwide.
HBC solutions typically provide greater liquidity for asset rich companies with cyclical tendencies, high leverage, customer concentrations, operating issues, or seasonality. With traditionally higher advance rates on accounts receivable and inventory, we can provide more borrowing capacity than a traditional middle market cash flow structure.
Credit facilities are structured to provide financing flexibility, while requiring minimal financial covenants, and asset-based facilities can be combined with various junior capital components. Plus, leverage is not a focus due to the collateral priority structure. Our team can provide financings from $7.5MM to $300MM+ with ability to lead and syndicate larger transactions.
Well-Suited Businesses
• Organizations with sales revenues from $20 million to $2 billion or more
• Strong working capital asset coverage
• Experiencing reduced cash flow or earnings
• High cash flow leverage (funded debt/EBITDA)
• Highly cyclical or seasonal business model
• High growth
• Elongated cash conversion cycle
• Operational turnaround situations
Key Industries
• Manufacturing
• Distribution
• Wholesale
• Retail
• Services
• Healthcare
• Metals
HBC finances privately held, public, foreign-owned, and private equity-owned companies with total managed commitments of greater than $4 billion. Working with our experienced team, you can expect:
Access to Decision Makers
Quick Assessment and Turnaround
Proactive Personalized Service
Long-Term Relationships
Dedicated Team Approach
National Coverage
HBC Office Locations
Akron, Atlanta, Boca Raton, Boise, Boston, Charlotte, Chicago, Cincinnati, Cleveland, Columbus, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Milwaukee, Minneapolis, Philadelphia, Pittsburgh, San Francisco, Sarasota, and St. Louis
Recent Deal Announcements
Needler Enterprises, Inc.
Grocery Retailer
Undisclosed
Senior Secured Credit Facility
Refinancing and Recapitalization
February 2023
Vanguard International Solutions, Inc.
$25,000,000
Senior Secured Credit Facility
Growth Financing
December 2022
Polymerica Limited Company
$16,000,000
Senior Secured Credit Facility
Refinancing and Recapitalization
December 2022
Trumbull Industries, Inc.
Plumbing and Kitchen Manufacturer and Distributor
$36,000,000
Senior Secured Credit Facility
Recapitalization and
Growth Financing
October 2022
Leader Global Solutions, LLC
$150,000,000
Senior Secured Credit Facility
Refinancing and Growth Financing
September 2022
Fourth Street Barbeque, Inc.
$88,300,000
Senior Secured Credit Facility
Refinancing and Growth Financing
September 2022
Sports Endeavors, LLC
Lacrosse Retailer
$35,000,000
Senior Secured Credit Facility
Acquisition Financing
August 2022
Sunbelt Modular, Inc.
Modular Buildings
Manufacturer
$35,000,000
Senior Secured Credit Facility
Acquisition Financing
August 2022
Mol-Son, LLC
$53,300,000
Senior Secured Credit Facility
Refinancing
July 2022
Second Avenue Capital Partners, LLC
$175,000,000
Administrative Agent, Bookrunner, and Lead Arranger
Senior Secured Credit Facility
Refinancing and Growth Financing
June 2022
Ardisam, Inc.
Outdoor Products Manufacturer and Distributor
$63,200,000
Senior Secured Credit Facility
Refinancing and Growth Financing
June 2022
Designer Brands Inc.
Designer, Producer, and Retailer of Footwear and Accessories
$550,000,000
Administrative Agent,
Joint Bookrunner, and
Joint Lead Arranger
Senior Secured Credit Facility
Refinancing and Growth Financing
May 2022
Atlas Wire, LLC
Low Voltage Copper Wiring Manufacturer
$20,000,000
Senior Secured Credit Facility
Acquisition Financing
December 2021
Dakkota Integrated
Systems, LLC
$150,000,000
Senior Secured Credit Facility
Refinancing
December 2021
Ames Copper Group, LLC
Copper Smelting
$25,000,000
Senior Secured Credit Facility
Growth Financing
November 2021
Mid America Freight Logistics, LLC
$10,000,000
Senior Secured Credit Facility
Refinancing
October 2021
Bayloff Stamped Products Detroit, Inc.
Stamped Components and Welded Assemblies Provider
$15,000,000
Senior Secured Credit Facility
Refinancing
August 2021
TeleTracking
Technologies, Inc.
Healthcare Information
Technology
$60,000,000
Senior Secured Credit Facility
Growth Financing
June 2021
Essential Cabinetry Holdings, Inc.
Custom Cabinetry Manufacturer
$8,000,000
Senior Secured Credit Facility
Refinancing
May 2021
Golding Farms Foods, Inc.
Specialty Food Products Manufacturer
$34,000,000
Senior Secured Credit Facility
Refinancing
April 2021
SOL Acceptance, LLC & Blackfish Capital, LLC
Sub-Prime Auto Loan Servicing
$45,000,000
Senior Secured Credit Facility
Refinancing and Growth Financing
March 2021
DRT Holdings, LLC
Mill Rock Capital
Precision Tools Manufacturer
$30,000,000
Senior Secured Credit Facility
Recapitlization
January 2021
Huntington Business Credit® is a federally registered service mark of Huntington Bancshares Incorporated.