MidCap Business Credit announced it has completed a $3 million asset-based credit facility to Technology Container Corporation in Desoto, TS, a manufacturer of corrugated plastic boxes. The asset-based credit facility is comprised of a revolving line of credit and a term loan.  The $3 million credit facility was put in place to provide exit financing from Chapter 11 bankruptcy and to support ongoing working capital requirements.   

The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.  

MidCap Business Credit provides asset-based credit facilities to small- and middle-market businesses nationwide, that have borrowing requirements from $1 million to $10 million.