MidCap Business Credit announced that it has completed a $3.7MM asset based line of credit to United Hardware, LLC in support of the management-led purchase of DataQ Internet Equipment Corp.’s assets.

Headquartered in King of Prussia, PA, United Hardware, d/b/a DataQ Direct, is a reseller of OEM equipment, primarily networking and VOIP equipment.   The credit facility is comprised of advances against accounts receivable and inventory.  The opportunity was sourced out of MidCap’s Mid – Atlantic office in Baltimore.

Daniel Leon, President of United Hardware stated, “MidCap’s professionalism through the acquisition process was overwhelming.  The entire time their staff came up with creative and flexible options to get our deal done.  I would recommend their services to others and look forward to working with them for many years to come”.  

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