MidCap Business Credit LLC Completes a $12 Million Asset Based Credit Facility to an Underground Utility Contractor

MidCap Business Credit LLC announced today that it has completed a $12 million asset-based credit facility to an underground utility contractor located in New England.

The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.   Seth Cooper, Senior Vice President and National Sales Manager, of MidCap Business Credit, LLC, said, "We were able to provide a flexible asset-based credit facility comprised of a working capital revolver and equipment term loan.  Our credit facility provided additional liquidity against the fixed assets, which will assist the business in achieving their growth objectives “.

MidCap Business Credit provides asset-based credit facilities to lower and middle-market businesses nationwide, who have borrowing requirements from $3MM to $20MM.