MidCap Business Credit completed a $3.5 million asset-based credit facility to a New England-based company that imports and distributes home décor products.

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements. The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.

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