Home/Invoice Financing Companies/First Midwest Bank

Contact

8501 West Higgins Road, Suite 230
Chicago, IL 60631

P: (773) 714-6234
F: (773) 516-5412
W: www.firstmidwest.com

Management

  • John Littrell: Senior VP and Head, Asset Based Lending
  • Craig Kempton : Senior VP and Head, Business Development Officer
  • Scott Kennedy : Senior VP and Credit Manager

Summary

Headquartered in Itasca, Illinois, First Midwest Bank is a 70-year-old company with assets in excess of $8 billion. FMB is a full-service bank operating through more than 100 branches in Iowa, Illinois and Indiana. The bank’s operations focus on customers in the American Midwest.

The bank’s asset-based lending group extends financing from $2 million to $25 million to regional wholesalers, manufacturers, service organizations, and distributors. Some of the most common forms of collateral used in FMB asset-based lending include accounts receivable, inventory, machinery, equipment and real estate. FMB asset-based financing is available at the following advance rates:

  • Up to 85 percent of eligible accounts receivable
  • Up to 65 percent of eligible inventory
  • Up to 100 percent of orderly liquidation value of M/E
  • Up to 75 percent of fair market value of real estate

Size of Loans

  • $1,000,000 - $5,000,000
  • $5,000,000 - $15,000,000
  • $15,000,000 plus

Available Financing

  • ABL
  • Accounts Receivable Financing
  • Inventory Financing