Wells Fargo Capital Finance increased Midcap Business Credit’s revolving ABL facility to $100 million.
“We are extremely pleased with our ongoing relationship with the Wells Fargo Lender Finance team and the Connecticut Wells Fargo Commercial Banking team. The responsiveness to our needs from both teams has been second to none,” said Steve Samson, president of Midcap. “With the line increase and our recently announced additions to our operations department, the Midcap team is well positioned for continued growth serving the financing needs of the lower middle market.”
“Wells Fargo is very pleased to work with a great management team and an industry leader such as Midcap, and strengthen our existing relationship with this important client,” said Ajay Jagsi, senior relationship manager, Wells Fargo Capital Finance.
Midcap Business Credit is a senior secured lender providing asset-based loans and other credit products serving the lower middle market for financing needs ranging from $2 million to $15 million.
