MidCap Business Credit completed a $7 million asset-based line of credit to Warner Robins Supply Company. The revolving line of credit is comprised of advances against the company’s receivables and inventory.
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.
The opportunity was sourced out of MidCap’s office in Atlanta, GA.
“We are extremely pleased to have MidCap Business Credit as our working capital lender. The team at MidCap responded quickly to our request and structured a facility to address the unique aspects of our business operations” said David Mahoney, CFO of Warner Robins Supply. “Warner Robins Supply is well positioned for significant growth and the proceeds from the facility will allow us to capitalize on the rebounding construction industry in the Southeast market.”
Warner Robins, GA-headquartered Warner Robins Supply is a distributor and retailer of building materials.
