MidCap Business Credit Closes New $4,500,000 Credit Facility
MidCap Business Credit announced today they have closed on a $4,500,000 asset-based revolving line of credit for CR Brands, Inc., a portfolio company of Resilience Capital Partners, headquartered in West Chester Township, Ohio. CR Brands is an innovative consumer packaged goods company with a portfolio of affordable household cleaning and laundry products with superior performance qualities. Today, CR Brands enjoys national distribution and close customer relationships with many leading retailers.
The opportunity was sourced out of MidCap’s Dallas office. Bill Nay, Senior Vice President of MidCap Business Credit said, “We were able to provide the company with a deal structure that allows them the flexibility they need to execute on their strategic plan and grow the business. We look forward to working with the team at CR Brands.”
Ki Mixon, Partner with Resilience Capital added, “Midcap did a great job understanding the CR Brands story and putting together a solution that worked. The fact that they were able to underwrite, close and fund a new line of credit in less than 6 weeks from the initial call during these crazy times is very impressive.”
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.