MidCap Business Credit Closes $6MM ABL for Energy Company

MidCap Business Credit closed a $6 million asset-based credit facility for a private equity owned company in the energy space.

“We were able to structure a flexible credit facility for the sponsor and close quickly, which will assist them in helping the business achieve their financial objectives,” Seth Cooper, senior vice president of MidCap Business Credit, said.

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses with borrowing requirements from $2 million to $20 million.