MidCap Business Credit completed an $18,000,000 million asset based credit facility to Jordan Manufacturing Company, a manufacturer of outdoor seating cushions headquartered in Monticello, IN.  Additionally, the Company has developed an industrial paint filtration product and has recently entered into an exclusive manufacturing agreement with a wholesale supplier to the auto industry. The Company's primary customer base consists of discount department stores, home improvement stores, dollar stores, and drug stores.

Ashley Budd, CEO of Jordan Manufacturing Company stated “We are excited to have recently completed a transaction with our new banking partner, MidCap Business Credit. The MidCap team understands business, and they focus on what really matters. They do what they say they are going to do and don’t waste any time getting there. We are confident the partnership with MidCap can support our business needs over the next several years as we focus on delivering value to our consumers through the ever-changing global economic landscape.”

The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.   Bruce Pavesich, Senior Vice President of MidCap said, "We were able to  provide a flexible asset based line of credit in a very timely manner.  Our new loan will be utilized to support the company’s growth trajectory and free up suppressed availability limited under the prior lender’s facility.  We look forward to working with the company and helping them execute on their strategic plan and grow the business.”