Daily News: January 11, 2012

MidCap Business Credit Provides $1.5 Million to Consulting Firm

MidCap Business Credit announced that it has completed a $1.5 million asset-based credit facility to an engineering consulting firm.

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements. MidCap Business Credit was chosen to provide the financing because of its flexibility to support the company through its anticipated growth as well as its speed to close the credit facility.

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