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MidCap Business Credit Provides $7.5MM ABL to Land-Air Express

February 10, 2015, 07:41 AM
Filed Under: Logistics

MidCap Business Credit announced today that it has completed a $7.5 million asset-based line of credit to Land-Air Express of New England, Ltd., headquartered in Williston, VT. Land-Air Express provides direct and next day delivery services to locations around the Northeast.   The credit facility is comprised of advances against accounts receivable.

In addition to refinancing the previous lender, the proceeds will be used to support working capital requirements. MidCap Business Credit was chosen to provide the financing because of its flexibility to support the company through its anticipated growth as well as its speed to close the credit facility.

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

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