FIRST CAPITAL PROVIDES $6 MILLION CREDIT FACILITY TO MANUFACTURER AND WHOLESALER OF JANITORIAL SUPPLIES
BOCA RATON, FL, July 6, 2011 – First Capital, a specialized commercial finance company, announced that it has provided a $6 million working capital facility to a manufacturer and wholesaler of janitorial supplies.
First Capital was selected as a working capital partner based on the ability to create a financing solution that met both the client’s and the existing lender’s needs. The client was experiencing a high-growth period and its current regulated lender was closing its Asset Based Lending division.
Chris Collins, Vice President of Business Development in First Capital’s Southeast Region, stated, “First Capital was able to quickly create a financing solution that allowed the client to maintain its relationship with the existing bank lender. The final result was a package that is mutually beneficial for all parties as the bank was able to maintain the C & I and depository relationship, and the client was able to meet growth objectives.”
First Capital provides working capital financing typically ranging from $3 million to $15 million primarily to small and middle-market business owners with annual sales ranging from $10 million to $100 million. Credit facilities are in the form of asset-based loans or factoring arrangements.
This transaction was referred to Chris Collins and will be serviced by First Capital’s Southeast Region, managed by Ellen Schweitzer and located in Boca Raton, Florida. For further information relating to working capital financing solutions in the Southeast region, please contact Mr. Collins at 561-623-1886.
About First Capital
First Capital is a specialized commercial finance company positioned to enable entrepreneurs to achieve their goals through working capital lines of credit typically ranging from $3-$15 million in the form of Asset Based Lending and Factoring. A team of approximately 200 professionals is committed to understanding our clients’ business plans and providing timely and consistent funding decisions. Our size and scope make First Capital the preferred working capital partner -- small enough to build deep personal relationships and big enough to deliver the ideal solutions. Our commitment is to build long-lasting, mutually-beneficial relationships with clients and their advisors. First Capital differentiates itself from competitors with a performance-based culture and values-driven focus that provides the foundation for our growth and will continue to guide our vision for the future. 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