MidCap Business Credit has completed a $10 million asset-based line of credit for a distributor of winter clothing.
The financing, sourced and closed through MidCap’s headquarters in West Hartford, CT, will provide additional liquidity to the company.
“We were able to structure a revolver to generate the additional liquidity the company needed to pay off its incumbent lender and support its working capital needs going forward,” said Seth Cooper, senior vice president and national sales manager at MidCap Business Credit.
