MidCap Business Credit LLC Completes $5 Million ABL Facility

MidCap Business Credit LLC announced today that it has completed a $5 Million Asset Based Credit Facility to Blonder Tongue Laboratories, Inc. (NYSE American: BDR) Headquartered in Old Bridge, NJ,  Blonder Tongue Laboratories, Inc. is the oldest designer and manufacturer of cable television video transmission technology in the USA. The majority of its products continue to be designed and built in their state-of-the-art New Jersey facility for 50 years

Eric S. Skolnik, the Company’s Chief Financial Officer commented: “We are very pleased with the terms that MidCap has made available to us under the new facility.  We believe that the funding terms will improve our liquidity and provide us with greater working capital to help fund our current and planned future operations.”

The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.  Bruce Pavesich, Senior Vice President of MidCap Business Credit, LLC, said, "We were able to provide a flexible Asset Based Line of Credit and increase the availability of company’s prior  bank credit facility.  We look forward to working with the company and helping them execute on their strategic plan and grow the business.”

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