Lending

Our Approach
To Lending

Founded in 2002. Great Lakes Business Credit is an asset-based lender that is focused exclusively on providing business loans of $500,000 to $6 million. Our experienced team of financial professionals serve enterprises located in the Eastern half of the United States.

Our borrowers can pay off their loan relationships without penalty and no early termination fees.

Our Approach To Lending

Lendable Collateral

Lendable collateral includes:

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Accounts Receivable

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Inventory

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Machinery and Equipment

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Owner-Occupied Real Estate

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Debtor-in-Possession (limited to companies in Chapter 11 Bankruptcy)

General Lending Parameters

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    First security interest in all assets of borrower
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    Personal guaranty of principal owner(s) > 20%
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    Notes payable to related parties are subordinated to GLBC
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    Weekly borrowing base reporting
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    12-month facilities; no early termination fees
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    Full dominion of funds, with lockbox
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    Quarterly field exams

*These are general guidelines as advance rates, ineligibles and caps may change when considering individual requests.