MidCap Business Credit completed a $3.25 million asset-based credit facility to Egide USA.

Headquartered in Cambridge, MD, Egide specializes in manufacturing of hermetic packages for sensitive electronic components.

Bruce Pavesich, senior vice president of MidCap Business Credit, said, “We were able to quickly and efficiently provide a flexible asset-based line of credit and a real estate term loan to pay off the incumbent bank and fund additional needed liquidity. We look forward to working with the company and helping them achieve their goals and execute on their strategic plan.”

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