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: