Wintrust Receivables Finance Closes $4.5 Million Line of Credit for High Growth Manufacturing Company

Wintrust Receivables Finance (WRF) announced the closing of a new $4.5 million accounts receivable line of credit for a growing paper bag manufacturer.

The company’s proprietary technology allows production of paper bags in a greener, more sustainable, and more efficient method. This, coupled with the decline in use of plastic bags due to environmental concerns, had led the company to land a number of new clients in 2020. The line of credit provided by WRF will fund the company’s growing working capital financing needs as it expects exponential growth over the next three years.

“We believe this will make an excellent addition to our portfolio, and we are excited to see where this company is headed over the next few years,” said John Marrinson, executive vice president of WRF. “Providing lines of credit to earlier-stage high growth firms has always been a strength of our team, and once again we have proven our ability to execute in this type of situation."

About Wintrust Receivables Finance

Wintrust Receivables Finance, part of its parent company Wintrust, provides aggressively structured working capital lines of credit from $1 million to $50 million for middle market companies around the country that are unable to obtain the level of financing they need through a more traditional commercial bank underwriting.

About Wintrust

Wintrust is a financial holding company with assets of over $43 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 180 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.

Media contact:

Jason LeuVoy
312-550-3056
jleuvoy@wintrust.com