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MidCap Business Credit Inks $2.75MM Credit Facility with New England Natural Bakers

January 02, 2020, 08:45 AM

MidCap Business Credit announced that it has completed a $2.75 million asset based credit facility to New England Natural Bakers, Inc.  New England Natural Bakers is a manufacturer of granolas and trail mixes located in Greenfield, MA. 

The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. 

Seth Cooper, SVP at MidCap stated, "We were able to efficiently provide New England Natural Bakers with a flexible ABL facility to pay off the incumbent bank and provide the additional needed liquidity.  We look forward to working with the company and helping them achieve their goals and execute on their strategic plan."

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements. 

Chuck Marble, CEO/President of New England Natural Bakers stated, “MidCap Business Credit has been a fantastic partner as we explored our need for liquidity and Capital to fund our growth initiatives. They were efficient, professional, timely and attentive to our needs as an organization. We are extremely grateful and look forward to our new lending relationship.” 

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