MidCap Business Credit completed a $12 Million Asset-based credit facility for an underground utility contractor located in New England.
The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President and National Sales Manager, of MidCap Business Credit, LLC, said, "We were able to provide a flexible Asset Based Credit Facility comprised of a working capital revolver and equipment term loan. Our credit facility provided additional liquidity against the fixed assets, which will assist the business in achieving their growth objectives."