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MidFirst Business Credit Announces New Lending Relationship with Morcon

January 05, 2021, 06:00 AM
Filed Under: Paper

MidFirst Business Credit (MFBC) provided $8.5 million in working capital and capital expenditure facilities to Morcon, Inc. (Morcon). Located in Eagle Bridge, NY, Morcon is a commercial paper tissue converting company with three primary product lines: tissue, towel and napkins. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on December 22, 2020.

“We are thrilled and grateful to have the support of our new banking relationship partner,” said Joseph F. Raccuia, Morcon CEO and majority shareholder. “MidFirst recognized the strength of our team and our products, both of which have thrived during this difficult period. The MidFirst loan will provide added financial strength for Morcon to continue to grow and build our business going forward.”   

Dennis Schlesner, MFBC President, added, “We are very excited to partner with Morcon as they execute their future growth plans. We look forward to being their bank for years to come.”

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