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First Capital Provides $4MM Facility to Packaged Meat and Poultry Distributor

March 25, 2013, 08:04 AM
Filed Under: Distribution

First Capital provided a $4 million working capital facility to a Northeast distributor of packaged meat and poultry to hotels, restaurants, specialty markets, gourmet grocers. The new credit facility consists of a revolving line of credit collateralized by accounts receivable and inventory.

First Capital was selected as the working capital partner based on its knowledge of the industry and its ability to create a financing solution that provided additional liquidity to facilitate growth. The company has capitalized on several new opportunities and required the necessary capital to carry out their growth strategy.

“The company is known as a preferred supplier of top quality meats and poultry throughout the region,” said Calvin Navatto, vice president and business development officer. “First Capital was able to work with the management to create a financing structure that allows the company to capitalize on current and future opportunities.”

This transaction was referred to Calvin Navatto and will be serviced by First Capital’s Eastern ABL Region.

First Capital provides working capital financing typically ranging from $2 million to $25 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $250 million.

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