First Capital Provides $8 Million Asset-Based Credit Facility to Electronics Company
ATLANTA, GA. and BOCA RATON, FL, April 7, 2011 – First Capital, a specialized commercial finance company, announced that it has provided an $8 million asset-based lending working capital facility to a contract manufacturing and design services company involving electronics and electro mechanical assemblies.
The senior-secured facility is backed by accounts receivables and inventory. First Capital was chosen to do the deal because of its ability to close the deal quickly.
First Capital provides working capital financing ranging from $3 million to $15 million primarily to small and middle-market business owners with annual sales ranging from $5 million to $100 million. Credit facilities are in the form of asset-based loans or factoring arrangements.
This transaction was referred to Matt Simon and will be serviced by First Capital’s MidSouth Region, managed by John Nooney and located in Atlanta, Georgia. For further information relating to this deal or for working capital financing solutions in the MidSouth region, please contact Mr. Simon at 678-594-5911.
About First Capital
First Capital is a specialized commercial finance company positioned to enable entrepreneurs to achieve their goals through working capital loans typically ranging from $3-$15 million in the form of Asset Based Lending and Factoring. Our commitment is to build long-lasting, mutually-beneficial relationships with clients and their advisors. 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.
This press release contains “forward-looking” statements. Forward-looking statements reflect current expectations and projections about future events, and thus involve uncertainty and risk. It is possible that future events, including whether the offering is completed on the terms specified or at all, may differ from expectations due to a variety of risks and other factors such as market conditions. It is not possible to foresee or identify all such factors. Any forward-looking statements in this press release are based on certain assumptions and analyses made in light of First Capital’s experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. First Capital does not intend to update any particular forward-looking statements contained in this press release.