MidCap Business Credit LLC Completes a $5 Million Asset Based Credit Facility to Crozier Welding LLC

MidCap Business Credit LLC., announced today that it has completed a $5 million asset-based credit facility to Crozier Welding LLC.  Founded in 1980 and headquartered in Coshocton, OH, the company specializes in the design and manufacturing of oil and gas production equipment.

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 structure a deal which increased the size of the credit facility from what the Company had with their incumbent bank.  The increased funding will augment the Company’s existing vendor relationships and fund additional needed liquidity.  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 $3MM to $20MM.