First Capital Provides $6.5 Million Asset-Based Credit Facility to Euro Style International, Inc
LOS ANGELES, CA, and BOCA RATON, FL, November 14, 2011 – First Capital, a specialized commercial finance company, announced that it has provided a $6.5 million asset-based credit facility to Euro Style International, Inc., a distributor of fashion apparel. 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 introduced to this transaction because of its successful relationship and history with two other Martin Terzian affiliated companies (i.e., Pacific Intl. Alliance, Inc. and Pacific Legwear, Inc.).
Ron Garber, Executive Vice President and First Capital Western Region Manager stated, “We have always enjoyed working with Martin and his team at Pacific. We were able to see the big picture of what they are doing with Euro Style and give them a structured financing package that helped maximize their working capital.”
"In the past, we worked with two different lenders, but in our relationship with First Capital, we consolidated our financing and increased our advance rate with more flexibility," remarked Marin Terzian. “The First Capital team recognized our vision and partnered in our strategy, stepping up and going the extra mile. As a result, the deal was funded within two weeks, which allowed us to get back to running our business.”
This transaction was sourced by Ron Garber and will be serviced by First Capital’s Western Region, managed by Ron Garber and located in Los Angeles, California. For further information relating to this deal or for working capital financing solutions in the Western Region, please contact Mr. Garber at 213.412.1553.
About First Capital
First Capital provides working capital financing typically ranging from $3 million to $20 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.