MidCap Provides $5MM ABL for Triton Systems
MidCap Business Credit announced that it completed a $5 million asset-based credit facility for Triton Systems of Delaware. The senior credit facility consists of advances against accounts receivable and inventory.
In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements.
MidCap Business Credit was selected by management to provide the financing because of its ability to structure a flexible credit facility well as its speed to close the transaction.
Mississippi-headquartered Triton Systems of Delaware is a global provider of off-premise ATM machines.