MidCap Business Credit LLC Completes an $8 Million Asset Based Credit Facility to a Distributor of Ready to Assemble Wooden Furniture Frames

MidCap Business Credit LLC announced today that it has completed an $8 million asset- based credit facility to a distributor of ready to assemble wooden furniture frames.   

The opportunity was sourced and closed out of MidCap’s regional office 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 revolver and equipment term loan.  Our credit facility provided additional liquidity against the term assets to support the company’s growth plan”.

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