MidCap Business Credit completed a $6 million asset based credit facility with a manufacturer and distributor of air purifying respirators located in the Northeast. The ABL credit facility is supported by a working capital revolver and a machinery and equipment term loan.
The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.
Seth Cooper, SVP / National Sales Manager said, “We were able to structure a credit facility to repay the incumbent bank and provide the additional liquidity the company needs to achieve their strategic growth objectives”.