MidCap Business Credit completed a $3 million asset-based credit facility to Medin Technologies. Totowa, NJ-based Medin is a manufacturer of sterilization cases and trays for the medical device and instrument industry.

Seth Cooper, senior vice president and national sales manager of MidCap Business Credit, said, “We were able to quickly and efficiently provide a flexible asset-based line of credit and capital expenditures line to support Medin’s growth plans. It was a pleasure working with Seven Point Equity Partners, Medin’s controlling shareholder, and the team at Medin to put a credit facility in place that will provide the liquidity they need to achieve their goals.”

Mark Kammert, a partner at Seven Point, said, “We appreciated MidCap’s quick underwriting process, speed of documentation, and flexibility in dealing with the typical closing issues of middle market companies. We look forward to a great relationship with MidCap in the future.”

MidCap Business Credit provides asset-based credit facilities to small and middle market businesses nationwide with borrowing requirements from $1 million to $10 million.