FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


First Capital Renews $150MM Facility With Key Equipment Finance, Others

August 13, 2013, 08:02 AM
Filed Under: Lender Finance

First Capital, a specialized commercial finance company, announced that it extended the maturity of its $150 million senior secured credit facility with a group of lenders, including Key Equipment Finance, through October 2014.

“This transaction completes a cycle of debt refinancings totaling $550 million that we began late last year,” said Glen Stein, chief financial officer of First Capital.  “The company has plenty of long term debt, with no debt maturing for the next 5 quarters.”

“These debt refinancing strengthen our balance sheet,” said Lee Wilson, chairman & CEO of First Capital.   “We are well positioned to grow our business of lending to entrepreneurs and privately held companies in transition,”

“We will be entering the fifth year of our relationship with First Capital and have continued our support as a result of the company’s performance and success in the market,” said Rian Emmett, managing director of Key Equipment Finance’s Lender Finance unit.

First Capital is one of the largest independent working capital lenders in the United States providing asset-based lending and factoring services. The company’s clients typically have annual revenues ranging from $10-$250 million and have event-driven needs such as rapid growth or turnaround situations.

Key Equipment Finance is one of the largest bank-based equipment finance providers in the U.S. The company provides tailored equipment lease and finance solutions for commercial clients and government entities. Through its vendor services unit, equipment finance programs are developed for manufacturers, distributors and resellers in the U.S., Canada and Europe. Key Equipment Finance also provides lease capital markets support for corporations looking to optimize risk and revenue.

Headquartered outside Denver, CO, Key Equipment Finance manages $8.5 billion in assets and originates nearly $4 billion of equipment financing annually.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.