MidCap Business Credit completed a $5 million asset based credit facility to a manufacturer and distributor of battery based uninterruptible power supplies which are used for providing high quality power in harsh environments.
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 the additional liquidity on the term assets the company needed to be able execute on their growth plan.”
