ATLANTA, GA. and BOCA RATON, FL, July 16, 2012 – First Capital, a specialized commercial finance company, announced that it has provided $6.5 million Asset-Based senior credit facility to a manufacturer and designer of stock and customized displays for the food and beverage market. The senior credit facility consists of a $5 million working capital revolver collateralized by accounts receivable and inventory, and a term loan in the amount of $1.5 million collateralized by machinery and equipment.
The Company faced financial and operational hurdles due to the economic recession and significant damage to their manufacturing facility caused by a storm in 2008. As a result, the Company needed to restructure their financing facilities in order to purchase the necessary resources to facilitate new sales growth. First Capital was selected as the working capital partner based on its ability to create a flexible structure that would replace previous financing commitments and allow the company to capitalize on market opportunities.
First Capital provides working capital financing ranging from $2 million to $15 million primarily to small and middle-market business owners with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of Asset-Based loans or Factoring arrangements.
This transaction was sourced by Mark Pickering and will be serviced by First Capital’s Eastern 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 Eastern region, please contact Mr. Pickering or Mr. Nooney at 678-594-5900.
About First Capital
First Capital provides working capital financing typically ranging from $2 million to $15 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $250 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 New York City, the firm has additional full-service offices in Ft. Lauderdale, Boca Raton, Los Angeles, Atlanta and Oklahoma City with sales offices located across the United States. For more information, please visit www.firstcapital.com.