MidCap Business Credit completed an $8 million asset-based credit facility for a distributor of ready-to-assemble wooden furniture frames.
The opportunity was sourced and closed out of MidCap Business Credit’s regional office in West Hartford, CT.
“We were able to provide a flexible asset-based credit facility comprised of a revolver and equipment term loan,” Seth Cooper, senior vice president and national sales manager of MidCap Business Credit, said. “Our credit facility provided additional liquidity against the term assets to support the company’s growth plan.”
