MidCap Business Credit announced it has completed a $3.45 million asset-based credit facility to a commercial printing company located in the Northeast.  The credit facility is comprised of a $2.75 million revolving line of credit and a $700 thousand term loan.

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements.   MidCap Business Credit was chosen to provide the financing because of its flexibility to support the company through its anticipated growth as well as its speed to close the credit facility.  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, who have borrowing requirements from $1 million to $10 million.