MidCap Business Credit LLC Closes $15 Million Asset-Based Credit Facility for a Manufacturer of Oil Field Storage Tanks

MidCap Business Credit LLC (“MBC”) is pleased to announce the closing of a $15 million asset-based credit facility for a manufacturer of oil field storage tanks primarily serving the Permian Basin and Eagle Ford Shale.  The credit facility is comprised of a working capital revolver, machinery and equipment term loan, and a real estate term loan.  The new loan will be used to support the company’s working capital needs and refinance the existing debt.

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.