MidCap Business Credit completed a $4 million asset based revolving line of credit for NEJ.
Headquartered in Beacon Falls, CT, NEJ provides reverse logistic solutions to the apparel industry.
The credit facility will be used to support the company’s growth plans and working capital needs.
Ed Mascolo, NEJ founder and president, said, “I was introduced to the MidCap Team to potentially become our new working capital provider based on a special situation that forced change to our business. The MidCap management team responded quickly, and I realized they were the right business partners. I am excited to work with the MidCap Team to grow our new model as a business process outsource provider of reverse logistics to capitalize on the current retail environment”.
“MidCap Business Credit has been serving the lower middle market ABL financing requirements of privately held and sponsor owned companies for over 20 years,” said Seth Cooper, MidCap senior vice president. “We are excited to partner with Ed and the NEJ team in order to help them achieve their growth goals.”
