CIBC Bank USA Asset Based Lending closed a new Senior Credit Facility to Spartanburg Steel Products, Inc. which was used to refinance existing debt and support the company’s ongoing working capital and growth initiatives. The comprehensive facility includes a Revolving Line of Credit, a Term Loan secured by real estate and an Equipment Acquisition Line—delivering the flexibility and support needed to drive future expansion.  

Based in Spartanburg, South Carolina, Spartanburg Steel Products, Inc. specializes in the manufacturing of metal stampings and assemblies, welded sub-assemblies, and major body modules. The company serves major OEMs in the automotive, agriculture, and heavy equipment industries, with a primary focus on the North American market. 

“We are proud to support Spartanburg Steel Products, Inc. with a tailored financing solution that aligns with their strategic objectives,” said Ron Kerdasha, Regional Originations Manager, CIBC Bank USA. “Our team’s deep industry knowledge and commitment to a partnership with SSP and its ownership group will help the company strengthen its market position, invest in innovation and achieve its long-term growth ambitions.”