MidCap Business Credit completed a $4 million asset based credit facility to a New England-based company that manufactures and services casting equipment.

The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT. In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements.

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