Manufacturer, Norwood, NJ: $12,000,000 - Case Study

Manufacturer, Norwood, NJ: $12,000,000 by Martin Carmody an ESOP Advisor.

First American Bank was able to refinance the existing ESOP debt and liquidate the seller notes from the original ESOP financing that had been issued to support the purchase of 53% of the company stock by a previous ESOP. In addition, working capital needs were met and First American Bank refinanced a mortgage to buyout the selling shareholders' interest in the building partnership. First American Bank provided a blend of fixed and floating rates on the debt.