A Chicago-based distributor specializing in scooters and replacement parts to over 250 US dealerships experienced a business boom in the first two years of the pandemic. But when sales normalized in 2023, they were left with surplus inventory. The management team’s plan to shed excess product and make new strategic purchases to return to historic profit levels required a banking partner that could facilitate their vision.
First American Bank Vice President and Commercial Relationship Manager, Corey J. Roberts, quickly established a working capital line of credit, secured by the company’s inventory. Thanks to the distributor’s strong balance sheet and our lending officers’ confidence in the management team, the company gained the favorable terms and the space to right-size their inventory and also purchase new, strategic inventory from their overseas vendor. Within just three months, the distributor began to see their plan producing positive results.
