MidCap Business Credit completed an $18 million asset-based credit facility to Jordan Manufacturing, a manufacturer of outdoor seating cushions headquartered in Monticello, IN.
“We are excited to have recently completed a transaction with our new banking partner, MidCap Business Credit. The MidCap team understands business, and they focus on what really matters,” Ashley Budd, CEO of Jordan Manufacturing Company, said. “They do what they say they are going to do and don’t waste any time getting there. We are confident the partnership with MidCap can support our business needs over the next several years as we focus on delivering value to our consumers through the ever-changing global economic landscape.”
The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.
“We were able to provide a flexible asset-based line of credit in a very timely manner,” Bruce Pavesich, senior vice president of MidCap said. “Our new loan will be utilized to support the company’s growth trajectory 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.”
