Daily News: January 9, 2013

MidCap Closes $13.55MM in ABL Deals in December


MidCap Business Credit announced that it closed $13.55 million in new asset-based credit facilities for the month of December. The deals include:

  • a $5 million revolver for a furniture manufacturer in the Northeast Region;

  • a $3.75 million revolver for a manufacturer of foam board located in the Northeast Region;

  • a $3.3 million revolver and term loan for an electrical wholesaler in the Midwest Region and

  • a $1.5 million revolver for a chemical distributor in the Northeast Region.

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