MidCap Business Credit LLC (“MBC”) Closes $12 Million Edit Facility for a Sponsor-Owned Distributor of Specialty Chemicals and Materials

MidCap Business Credit LLC (“MBC”) is pleased to announce the closing of a $12 million asset-based credit facility for a sponsor owned distributor of specialty chemicals and materials. The credit facility is comprised of a working capital revolver and a machinery and equipment term loan. The credit facility will be used to support the company’s working capital needs and refinance the existing debt.

The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT.  "We were able to quickly close on flexible ABL financing structure which was designed to assist the business in meeting their growth objectives.  We are excited about the strong business partnership moving forward”  said Seth Cooper, SVP / National Sales Manager. 

About MidCap Business Credit :

MidCap Business Credit is a privately held commercial finance company providing $5 to $30 million senior secured asset-based loans to lower middle market companies nationwide. In conjunction with working capital revolvers, MidCap is able to offer machinery and equipment and real estate term loans as well. Founded in 2004, MidCap's senior management includes seasoned commercial finance professionals who are personally engaged in each transaction to assure timely delivery of the most effective customized financing