NEW YORK, NY and BOCA RATON, FL, August 17, 2011 – First Capital, a specialized commercial finance company, announced that it has provided a $5 million line of credit to Baum Textile Mills, Inc., a textile converter and distributor of uniforms.  The credit facility is in the form of a factoring agreement and is collateralized by the client’s accounts receivable and inventory.

First Capital was chosen to do the transaction because of its ability to structure a financial package that led to increased liquidity. The credit facility provides working capital needed to support the company’s growth strategy including the designing and creating of new products.

“The transition from our previous lender to First Capital was seamless and timely,” remarked Norman Hart, CFO of Baum Textiles.  “By forming this new relationship with a lender that understands our business we now have the necessary liquidity to support our growth strategy.”

Kevin McGarry, Executive Vice President and Northeast Regional Manager for First Capital, remarked, “Baum is a great example of a company that is aligned with First Capital’s ability to structure facilities for small and middle-market companies. We were able to create a financial package that is designed specifically for Baum and maximizes the availability against their assets to provide the working capital needed to support their growth.”          

This transaction was referred to Kevin McGarry and will be serviced by First Capital’s Northeast Region and located in New York City.  For further information relating to this deal or for working capital financing solutions in the Northeast region, please contact Mr. McGarry at 212-920-2800.

About First Capital
First Capital provides working capital financing typically ranging from $3 million to $15 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $100 million. Credit facilities are in the form of Asset-Based Loans or Factoring arrangements. First Capital is one of the largest independent Asset-Based working capital lenders in the United States. Headquartered in Boca Raton, Florida, the firm has additional full-service offices in New York, Los Angeles, Atlanta and Oklahoma City with sales offices located across the United States. For more information, please visit www.firstcapital.com.