Daily News: March 24, 2014

MidCap Business Credit Completes ABL for KDH Defense

MidCap Business Credit announced that it completed a $7.5 million asset-based credit facility for KDH Defense Systems. The facility consists of a revolving line of credit with advances against A/R and inventory, and a machinery and equipment term loan.

Proceeds were used to refinance the previous lender and support working capital requirements.

Eden, NC-headquartered KDH Defense Systems is a global manufacturer of body armor.