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MidCap Business Credit Completes $12MM Asset-Based Credit Facility for Responsible Energy Operations

May 24, 2022, 08:00 AM
Filed Under: Mining

MidCap Business Credit completed a $12 million asset-based credit facility to Responsible Energy Operations (REO). The Company, headquartered in Petersburg, IN, is a thermal coal mining and processing business.

The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap, said, "We were able to provide a flexible asset-based credit facility to provide the necessary working capital to enable the company to execute on its strategic plan”.  

John Mick, CFO of Responsible Energy Operations stated, “The REO team is pleased to close our transaction with MidCap. Our team worked closely with the MidCap professionals to conclude an outstanding financial tool to facilitate our growth and success at REO.”  

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $3MM to $20MM.

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