Daily News: February 7, 2013

MidCap Business Credit Provides ABL to Board Manufacturer


MidCap Business Credit completed a $3.75 million asset-based line of credit to a board manufacturer located in New England. The credit facility is supported by advances on receivables and inventory.

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements and growth.

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