Asset Based Lending
At First Midwest Bank, our Asset Based Lending solutions are tailored to your business financing needs. With experienced, professional business lending experts committed to building strong, long-term relationships, you can rest assured that we'll work together to help provide the capital for a strong financial future.
Our Focus
We strive to be the Midwest's leading commercial bank, committed to fulfilling not only your lending needs, but all of your business' banking needs. Our Asset Based Lending team of professionals – with collective experience greater than 105 years – is backed by a bank that has served your friends, neighbors, and business associates for over 70 years and specializes in relationships from $2 to $25 million. We continue to build partnerships with wholesalers, manufacturers, service organizations, and distributors – while focusing on the needs of middle market companies with our wide array of services.
Our Asset Based Lending group is here to help when your business needs capital for:
- Growth
- Mergers
- Acquisitions
- Turnarounds
- Asset Purchases
Some of the most common forms of collateral we use in our lending solutions include:
- Accounts Receivable
- Inventory
- Machinery and Equipment
- Real Estate
Our solutions are available with the following advance rates:
- Up to 85% of eligible accounts receivable
- Up to 65% of eligible inventory
- Up to 100% of orderly liquidation value of M/E
- Up to 75% of fair market value of real estate
Get Connected with Our Team
For more information on our Asset Based Lending solutions, please contact our Customer Care Center at 800-322-3623 or any of the experts listed below:
- John Littrell – Senior Vice President, Group Head – Asset Based Lending
- Joe Fobbe – Senior Vice President, Business Development Manager
- Craig Kempton – Senior Vice President, Business Development Officer
- Scott Kennedy – Senior Vice President, Credit Manager
- Phil Tan – Vice President, Field Exam Manager
- Karen Strom – Vice President, Systems Administration Manager