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MidFirst Business Credit Provides $9MM in Credit Facilities to Heat Transfer Tubular Products

September 07, 2022, 07:30 AM
Filed Under: Distribution

MidFirst Business Credit (MFBC) provided a $9 million working capital and term facility to Heat Transfer Tubular Products, LLC (HTTP). Headquartered in Conroe, Texas, HTTP is a value-added distributor of niche products for heat exchangers, condensers, boilers, feed-water heaters and economizers. HTTP also provides value-added services, such as cutting, finning, bending and heat-treating. The funds were used to refinance existing loans and provide additional working capital to help facilitate further business expansion. The transaction was completed on August 26.

Headquartered in Atlanta with offices in Nashville, Detroit, Chicago, Dallas, Phoenix and Los Angeles, MidFirst Business Credit provides customized, flexible financing solutions to growing businesses nationwide. Offering lines of credit of up to $30 million, MidFirst Business Credit provides working capital and term loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.

MidFirst Business Credit is owned by MidFirst Bank, the nation’s largest privately held bank with more than $33.1 billion in assets. This unique structure gives MFBC the flexibility of a finance company with the stable financial backing of a bank.

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