MidCap Business Credit completed a $6 million asset-based credit facility to a manufacturer and distributor of air purifying respirators located in the Northeast. The ABL credit facility is supported by a working capital revolver and a machinery and equipment term loan.
The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, SVP, national sales manager said, “We were able to structure a credit facility to repay the incumbent bank and provide the additional liquidity the company needs to achieve their strategic growth objectives.”
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $3 million to $25 million.
