MidCap Business Credit completed a $7.5 million asset-based line of credit to a food importer and distributor located in the Northeast. The revolver is supported by advances against accounts receivable and inventory.
Sourced and closed out of MidCaps headquarters in West Hartford, CT, SVP / National Sales Manager Seth Cooper stated, “We were able to structure and quickly close on a flexible ABL revolver to assist the management in the buy out of the business and provide the working capital financing it will need to execute on its strategic growth plan.”