MidCap Business Credit Closes New $2,500,000 Credit Facility
MidCap Business Credit announced today that it has completed a $2.5 million Asset Based Credit Facility to UG Plast, Inc. Headquartered in York, PA , UG Plast , Inc. is a manufacturer of multi-wall polycarbonate, solid polycarbonate, and corrugated polypropylene sheets selling to distributors. These distributors serve construction, printing display, sign, medical, industrial packaging, and OEM markets.
The opportunity was sourced out of MidCap’s regional office in Baltimore, MD. Bruce Pavesich, Senior Vice President of MidCap Business Credit, LLC, said, “We were able to structure a flexible Asset Based Line of Credit to expand the company’s existing vendor relationships and provide additional liquidity. We look forward to working with the company and helping them achieve their goals and grow the business.”
MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.