Daily News: December 4, 2018

MidCap Business Credit Provides $6MM ABL Facility to Rotam

MidCap Business Credit completed a $6 million asset based credit facility for Rotam North America.

Headquartered in Greensboro, NC, Rotam is the distribution arm of the cropsciences division of a publicly traded Chinese entity operating in the cropsciences, veterinary, and public health sectors.

Bruce Pavesich, MidCap senior vice president, said, “We were able to increase the size of company’s prior bank credit facility and provide a flexible working capital solution to help them achieve their growth goals.”

The opportunity was sourced out of MidCap’s regional office in Baltimore.

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.