Enterprise Financial Cde Announces Closing Of Low Income Community Fund Qlici

Dec. 20, 2013 - PRLog -- ST. LOUIS, December 18, 2013.  Enterprise Financial CDE, LLC (EFSC), a subsidiary of Enterprise Financial Services Corp  announced that it has closed on its first transaction under a previously funded Qualified Equity Investment from September 2013.

Earlier this month, EFCDE closed on a transaction to assist in the acquisition of a beverage company by Arcobasso Foods.  The 26 year old processor and packager is located in a low income community in St. Louis.  They plan to relocate the processing of the beverage company and hire additional employees in their current St. Louis operations.

Mitch Baris, Executive Director of EFCDE said “We are excited to announce the first closing under our $15.5MM QEI made last quarter focused on providing gap financing to businesses for operating capital LIC.  The funds will be used by Arcobasso to acquire the company, expand operations and hire additional employees.  We cannot think of a more appropriate investment with our NMTC allocation.”

Matt Pudlowski at Arcobasso said "We are excited to have been given the opportunity to utilize NMTC funds to expand our business.  We look forward to a long and mutually beneficial partnership with EFCDE and Enterprise Bank, who provided senior debt for the transaction."

Enterprise Financial Services Corp  is the parent company of Enterprise Financial CDE, LLC and Enterprise Bank & Trust which operates commercial banking and wealth management businesses in metropolitan St. Louis, Kansas City, and Phoenix.  The Company is primarily focused on serving the needs of privately held businesses, their owner families, executives and professionals.