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First Capital Provides $7MM Credit Facility To Ed Map

November 05, 2014, 07:24 AM
Filed Under: Education

First Capital, a national commercial finance company, announced it has provided a $7 million revolving line of credit to ED MAP, Inc. The senior credit facility consists of a $7 million working capital revolver collateralized by accounts receivable and inventory.

First Capital was referred to the company because of First Capital’s ability to refinance the previous lender, providing the company with additional liquidity and flexibility to support continued growth. ED MAP is a content strategy and logistics company that provides services and technology to simplify the discovery, adoption, management and delivery of quality educational content within the higher education marketplace.

“With ED MAP experiencing a growing need for and interest in our services and technology, we had been looking for a lending partner able to provide the flexible facility we needed to capture market opportunities,” remarked Gregory P. Smith, CFO of ED MAP. “First Capital took the time to understand our business and was able to provide a credit facility that allows us to profitably grow our business.”

Mark Schroeder, First Capital’s vice president and business development officer, stated “We are happy to partner with innovative, entrepreneurial companies such as ED MAP that need a lending partner who understands their unique challenges.”

This transaction was sourced by First Capital’s Cleveland Business Development Office headed by Mark Schroeder, VP and business development officer and will be serviced by First Capital’s ABL Central Region managed by John Curtis, EVP and ABL Central Region Manager. 

First Capital provides customized and timely working capital financing solutions primarily to small and middle-market companies engaged mainly in manufacturing, distributing and business services with annual sales greater than $10 million. Lines of credit are in the form of asset-based loans, factoring or invoice purchasing arrangements ranging from $200,000 to $25 million. Originally formed in 1988, First Capital is one of the largest independent asset-based working capital lenders in the country. Headquartered in New York City, the firm has additional offices in Atlanta, Boynton Beach, Chicago, Dallas, Los Angeles, and Oklahoma City with regional sales offices located across the United States.

ED MAP is a contact strategy and logistics company. Through its people and technology ED MAP simplifies the discovery, adoption, management, and delivery of quality educational content – a complex proposition given the increasing options of content choices today.

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