Daily News: March 6, 2014

MidCap Business Credit Provides ABL to Ice Cream Manufacturer

MidCap Business Credit announced it has completed a $2.5 million asset-based line of credit to an ice cream manufacturer and distributor located in the Midwest. The credit facility is comprised of advances against A/R and inventory.

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

MidCap Business Credit was chosen to provide financing because of its flexibility to support the company through its anticipated growth as well as its speed to close the credit facility.