MidCap Business Credit LLC Completes a $6 Million Asset-Based Credit Facility

MidCap Business Credit LLC announced today that it has completed a $6 million asset-based credit facility to a manufacturer and distributor of air purifying respirators located in the Northeast. The ABL credit facility is supported by a working capital revolver and a machinery and equipment term loan.

The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.  Seth Cooper, SVP / National Sales Manager said, “we were able to structure a credit facility to repay the incumbent bank and provide the additional liquidity the company needs to achieve their strategic growth objectives”.

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $3MM to $25MM.