MidCap Business Credit Closes $5 Million Facility for Coated and Bonded Abrasive Products Manufacturer

MidCap Business Credit announced today they have closed on an $5,000,000 asset-based credit facility to a manufacturer and supplier of coated and bonded abrasive products throughout North America, Canada, and Mexico.  The credit facility is supported by advances against accounts receivable and inventory.

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.