MidCap Business Credit provided a $2.75 million asset-based facility to New England Natural Bakers.
Greenfield, MA-based New England Natural Bakers manufactures granolas and trail mixes.
“We were able to efficiently provide New England Natural Bakers with a flexible ABL facility to pay off the incumbent bank and provide the additional needed liquidity. We look forward to working with the company and helping them achieve their goals and execute on their strategic plan,” said Seth Cooper, MidCap’s SVP.
In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements.
“MidCap Business Credit has been a fantastic partner as we explored our need for liquidity and Capital to fund our growth initiatives. They were efficient, professional, timely and attentive to our needs as an organization. We are extremely grateful and look forward to our new lending relationship,” said Chuck Marble, CEO and president of New England Natural Bakers,
