Auction Broadcasting Company (ABC), a highly innovative auto auction company based in Indianapolis, announced the completion and funding of a new US$60 million credit facility. This facility, funded jointly by Comerica Bank and GMAC Commercial Finance is designed to provide ABC with the working capital to support the rapid growth ABC says it has enjoyed since its’ founding in 2000.
Mike Hockett, ABC’s founder and president stated, “We are extremely pleased to have two such supportive partners join together in this commitment to ABC.”
Comerica Incorporated is a financial services company focused on business banking and asset gathering. Comerica reported total assets of US$56 billion at March 31, 2003.
GMAC Commercial Finance offers business-to-business lending, leasing and factoring products structured to fit the needs of a wide variety of clients in diverse industries.
