MidCap Business Credit Closes on a $5,500,000 Asset Based Credit Facility

MidCap Business Credit announced today they have closed on a $5,500,000 Asset Based Credit Facility for Mitchell Rubber Products, LLC.   Headquartered in Mira Loma, CA, Mitchell Rubber Products provides molded rubber components and other branded elastomeric products into a variety of end markets.

David Gesmondi, Managing Director at Bellmark Partners, who acted as its exclusive financial advisor on the transaction stated,   “MidCap was responsive, flexible, efficient, and did exactly what they said they would do for our client, Mitchell Rubber.  I would highly recommend them for any ABL senior debt financings needed for middle market transactions:”

The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT.   Seth Cooper, Senior Vice President of MidCap Business Credit said, “We are excited to close a deal with Bellmark and the Mitchell Rubber team.   We were able to structure a flexible credit facility to allow the company to achieve its financial objectives.    We are continuing to grow our middle market ABL portfolio with our recent expansion to the West Coast”.

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