Daily News: December 19, 2014

MidCap Completes $3.45MM ABL to Commercial Printer

MidCap Business Credit announced it completed a $3.45 million asset-based credit facility to a commercial printing company located in the Northeast. The facility is comprised of a $2.75 million revolving credit line and a $700,000 term loan.

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

MidCap Business Credit was chosen to provide the financing because of its flexibility to support the company through its anticipated growth as well as its speed to close the credit facility. The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.