Chicago Community Bank Helps Smooth Sale of Local Manufacturing Business

Chicago Community Bank Helps Smooth Sale of Local Manufacturing Business

Jim Vassar believed in providing the best-in-class quality service in the plastics industry.  Inspired by his father’s work   bottle making technician-Jim Vassar founded Fidelity Tool & Mold in 1986, with the vision to provide a customized and innovative approach to mold technology. Fidelity Tool & Mold also commits to researching and developing patented technology, the first MPL (Multi Parting line technology), which doubles the output of conventional machines in the industry.

After years of consistent growth, Fidelity Tool & Mold caught the eye of Brett Weber, who wanted to acquire a thriving business. In September 2020, Weber turned to his go-to community bank, Centrust Bank, for assistance. Centrust provided an SBA Loan to finance the purchase with a revolving line of credit, while ensuring a smooth sale with the help of the expert Centrust Bank team.

About Centrust SBA Programs

Centrust Bank is focused on helping small to mid-sized businesses grow profitably and safely by ensuring that each client receives the specific financial help they need to be successful. Centrust Bank understands entrepreneurship because, like many of its clients, they are also entrepreneurs. Their experienced commercial banking professionals are dedicated to helping businesses, big or small, grow to their maximum potential.

“Centrust Bank has become a premier SBA lender and one of the largest SBA lenders and specialists in Illinois,” said Centrust Bank CEO Jim McMahon.

About Centrust Bank

Founded in 2006, Centrust Bank has grown to become a leading Chicago area community bank focused on lending to small to mid-sized businesses throughout the Chicagoland area. To learn more or to contact Centrust Bank, visit their website: centrustbank.com

Centrust Bank is an Equal Housing Lender. Member FDIC.

About Fidelity Tool & Mold

Fidelity Tool and Mold provides the highest quality extrusion blow mold tool solutions for every customer. That’s it — one focus, one customer at a time. This singular vision is why Fidelity has earned its reputation for high standards, best-in-class quality, and exceptional service. For more information, visit their website here: https://www.fidelitytool.com/