MidCap Business Credit completed a $14 million asset based credit facility to Wozniak Industries.
“When I first spoke with MidCap, it was immediately clear they were interested in being part of Wozniak Industries’ success. The team took the time to understand our story and asked thoughtful questions about our current position and future needs,” Matt Kelly, chief financial officer for the company, said. “Senior leadership was involved early in the process, reinforcing their commitment to supporting us. They structured a loan that maximized our liquidity and moved quickly and efficiently to close. Throughout the process, the entire team was highly communicative and transparent. I couldn’t be more pleased with our new relationship and financial partner.”
The opportunity was sourced out of MidCap’s regional office in Baltimore.
“We were able to provide a flexible asset-based line of credit in a short timeframe,” Bruce Pavesich, senior vice president of MidCap, said. “Our new loan will be utilized to support the company’s restructured business model and free up suppressed availability limited under the prior lender’s facility. We look forward to working with the company and helping them execute on their strategic plan and grow the business.”
