MidCap Business Credit completed an $8 million asset-based credit facility with a distributor of ready to assemble wooden furniture frames.
The opportunity was sourced and closed out of MidCap’s regional office 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 revolver and equipment term loan. Our credit facility provided additional liquidity against the term assets to support the company’s growth plan”.