MidCap Business Credit expanded its product offerings this year by launching MidCap Equipment Finance. Led by Saurin Shah, a co-founder of Nations Equipment Finance (now SLR Equipment Finance), the new business aims to help MidCap become a one-stop financing partner for the middle market.
MidCap Business Credit increased its senior credit facility with Wells Fargo Capital Finance to $200 million. This upsize will enable MidCap to support the growth of its existing asset-based lending business and support the launch of its equipment finance vertical.
MidCap Business Credit formed a new entity, MidCap Equipment Finance, and hired a team of investment professionals to begin offering equipment loans and leases. Saurin Shah, co-founder of SLR Equipment Finance (formerly known as Nations Equipment Finance), will lead the new entity.