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


First Capital Provides $21MM ABL to Tire Distributor

December 03, 2014, 08:02 AM
Filed Under: Distribution

First Capital, a specialized commercial finance company, provided a $21 million asset-based senior credit facility to a distributor of tires and supplies for the automotive, agricultural and professional industries.  The senior credit facility consists of a $21 million working capital revolver collateralized by accounts receivable and inventory.

The company needed to refinance its existing debt facilities to support ongoing working capital needs. First Capital was able to create a tailored financing facility that would permit the company to continue to realign its operations and allow for future flexibility.

This transaction was sourced by Nick McDearis and will be serviced by First Capital’s Eastern Region, managed by John Nooney and located in Atlanta, Georgia. 

First Capital provides working capital financing ranging from $2 million to $25 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, factoring or invoice purchasing arrangements. 

Comments From Our Members

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