Daily News: June 10, 2014

MidCap Business Credit Closes Smart Chemical Services ABL

MidCap Business Credit announced that it has completed a $3.5 million asset-based credit facility to Smart Chemical Services, headquartered in Amarillo, TX.

Smart Chemical Services is a chemical provider serving the oil and gas industries. The asset-based facility is comprised of a revolver with advances against accounts receivable and inventory and a capital expenditures line of credit.