Asset Based Lending

At First Midwest Bank, our Asset Based Lending1 solutions are tailored to your business financing needs. With experienced, professional business lending experts committed to building strong, long-term relationships, you can rest assured that we'll work together to help provide the capital for a strong financial future.

Our Focus

We strive to be the Midwest's leading commercial bank, committed to fulfilling not only your lending needs, but all of your business' banking needs. Our Asset Based Lending team of professionals – with collective experience greater than 200 years – is backed by a bank that has served your friends, neighbors, and business associates for over 70 years and specializes in lending relationships from $5 to $50 million. We continue to build partnerships with wholesalers, manufacturers, service organizations, and distributors – while focusing on the needs of middle market companies across the Midwest with our wide range of capabilities.

Our Asset Based Lending group is here to help when your business needs capital for:

  • Growth
  • Mergers
  • Acquisitions
  • Turnarounds
  • Asset Purchases

Some of the most common forms of collateral we use in our lending solutions include:

  • Accounts Receivable
  • Inventory
  • Machinery and Equipment
  • Real Estate

Our solutions are available with the following advance rates:

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

Get Connected with Our Team

For more information on our Asset Based Lending solutions, please contact our Customer Care Center at 800-322-3623 or any of the experts listed below:

  • Neil Prendergast, Senior Vice President, Head of Asset Based Lending
  • Rick Lehrter – Senior Vice President, Business Development Officer
  • Andrew Arton – Senior Vice President, Business Development Officer
  • Adolph Letke – Senior Vice President, Business Development Officer

Customer Care

Got questions? Get answers.

Call us at 800.322.3623.

  • Monday – Friday: 7am – 7pm
  • Saturday: 8am – 5pm
  • Sunday: 9am – 2pm

Get Connected

We serve a broad footprint throughout the Midwest:

  • Neil Prendergast, S.V.P., Head of Asset Based Lending
  • Andrew Arton, covers Michigan, Ohio, Kentucky and Pennsylvania
  • Adolph Letke, covers Minnesota, Illinois, Wisconsin, Iowa, Indiana
View Our Latest ABL Deals

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