Business Details
24 Years
experience
Asset-Based Lending Solutions for Growing Businesses
Great Lakes Business Credit has been a trusted provider of asset-based lending solutions since 2002. Originally established as Great Lakes Business Credit, we rebranded in 2023 to reflect our expanded vision of serving businesses across the Eastern United States. Our team of experienced financial professionals specializes in delivering flexible financing for small and medium-sized enterprises (SMEs) that cannot meet traditional bank loan requirements. We structure customized asset-based lines of credit using accounts receivable, inventory, machinery, and real estate as collateral. With loan commitments ranging from $500,000 to $6 million, we help businesses stabilize cash flow and transition back to conventional financing.Our approach eliminates early termination fees, ensuring clients maintain financial flexibility. Having provided over $700 million in lending solutions, we combine deep industry expertise with personalized service. Our leadership team brings decades of commercial banking experience, including roles at major institutions like Comerica and JPMorgan Chase. We serve diverse industries including manufacturing, healthcare, and transportation. Client testimonials highlight our responsiveness, tailored solutions, and ability to meet urgent funding timelines. Our operations are headquartered in Troy, Michigan, with regional representatives covering the Midwest and Northeast.
Services
Asset-Based Lending
Working Capital Financing
Flexible Loan Structures
Quick Funding Solutions
Collateral-Based Financing
Details
- Year established: 2002
Highlights and features
- We offer loans from $500,000 to $6 million with no early termination fees
- Our team has 20+ years of asset-based lending experience
- We structure customized financing around your business assets
- We serve companies nationwide with regional specialists
- We fund qualified applications within 30 days
What people say
Flexible financing
Quick funding timelines
Personalized solutions
Responsive support
No early fees
Services
Asset-Based Lending
Our asset-based lending solutions use your business assets as collateral to secure working capital. We accept accounts receivable, inventory, machinery, and real estate as qualifying collateral. This approach provides flexible financing for companies with unconventional credit profiles.
Working Capital Financing
We provide tailored working capital solutions to address cash flow gaps. Our financing helps businesses manage growth cycles, seasonal fluctuations, and operational expenses. Funding ranges from $500,000 to $6 million with customized repayment terms.
Flexible Loan Structures
Our loan structures adapt to your business needs with no early termination fees. We offer revolving credit lines secured by first-position liens on business assets. Weekly borrowing base reporting ensures ongoing alignment with your financial position.
Quick Funding Solutions
We deliver expedited funding decisions with qualified applications funded within 30 days. Our streamlined process includes in-house underwriting and field examination capabilities. Clients have accessed financing in as little as 14 days for urgent needs.
Collateral-Based Financing
We specialize in collateral-based financing solutions that focus on asset quality rather than traditional credit metrics. Our lending parameters include first security interest in business assets and subordination of related-party notes.
People
Rhett B. Rowe
Chief Executive Officer
Dynamic CEO with 30+ years of strategic leadership experience. Former commercial banking executive with University of Michigan economics degree and Detroit MBA. Active in Turnaround Management Association and Secured Finance Network.
James Campbell
Chief Credit Officer
30-year commercial lending expert and attorney with Michigan Bar membership. Former executive at JPMorgan Chase and Comerica. Key member of team that established Great Lakes Business Credit. Specializes in credit underwriting and risk management.
Keith Lidtke
Chief Financial Officer
Seasoned CFO with 30+ years in banking and public accounting. Michigan Tech graduate with extensive experience at Crestmark Bank and Michigan National Bank. Mentors finance professionals and participates in community initiatives.
Grace Pawlenko
Executive Managing Director
Portfolio management leader with decade-plus tenure at Bridge. Holds Master of Science in Finance from Walsh College. Expertise in relationship management and underwriting developed through roles at major banks.
Jim Kinnaird
Executive Managing Director
35-year commercial credit veteran with economics degree from University of Michigan and MBA from Michigan State. Former Comerica Bank executive. Specializes in credit training and special assets management.
Questions
What loan amounts do you offer?
We provide asset-based loans ranging from $500,000 to $6 million based on your business assets and financial needs.
What collateral do you accept?
We accept accounts receivable, inventory, machinery, equipment, and owner-occupied real estate as qualifying collateral.
How quickly can I get funded?
Qualified applications typically fund within 30 days, with some urgent cases completed in as little as 14 days.
Do you charge early termination fees?
No, we offer all our loan products with no early termination fees or prepayment penalties.
What industries do you serve?
We work with manufacturing, healthcare, transportation, staffing, automotive, and other industries across the Eastern United States.
How does the application process work?
Start with our online application, followed by financial documentation review, asset evaluation, and final approval within our streamlined process.