Daily News: July 12, 2017

MidCap Provides $7.5MM Facility to IncrediTek

MidCap Business Credit completed a $7.5 million asset-based credit facility to IncrediTek.

Headquartered in Belcamp, MD, IncrediTek is a premier added value reseller and service and support company that gives its customers’ carrier-class networks a reliable partner.

The opportunity was sourced out of MidCap’s regional office in Baltimore.

Bruce Pavesich, senior vice president, said, “We were able to quickly and efficiently provide a flexible asset-based line of credit to expand the company’s existing vendor relationships and fund additional needed liquidity. We look forward to working with the company and helping them achieve their goals and grow the business.”

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