MidCap Business Credit announced it has completed a $7.5 million asset-based credit facility for KDH Defense Systems, a leading global manufacturer of body armor headquartered in Eden, NC. The credit facility consists of a revolving line of credit with advances against accounts receivable and inventory, and a machinery and equipment term loan.

The proceeds were used to refinance the previous lender and support working capital requirements. MidCap Business Credit was selected by management to provide the financing because of its ability to structure a flexible credit facility as well as its speed to close the transaction.

MidCap Business Credit provides asset based credit facilities to small and middle-market businesses nationwide, who have borrowing requirements from $1MM to $10MM.