MidCap Business Credit Closes on a $2,000,000 Asset Based Credit Facility for Pavement Corporation

MidCap Business Credit announced today they have closed on a $2,000,000 asset-based credit facility for Pavement Corporation, a portfolio company of Vicour and Spring Capital Partners out of Baltimore, MD. Headquartered in Waldorf, Maryland,  Pavement Corporation provides infrastructure asset management and maintenance services for exterior hard surfaces consisting of parking lots, public and private roadways, runways, and parks to commercial and governmental customers in the Mid Atlantic area.

The opportunity was sourced out of MidCap’s office in Baltimore, MD.  Bruce Pavesich, senior vice president of MidCap Business Credit said, “We are excited to work with Vicour and Spring Capital Partners. We were able to structure a flexible working capital solution to assist the business in meeting their financial objectives”.

MidCap Business Credit provides asset-based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.