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Capital Southwest Provides First Lien Term Loan to Capital Pawn

January 15, 2018, 08:00 AM
Filed Under: Lender Finance

Capital Southwest Corporation, a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses, announced that it has completed an investment in Capital Pawn Holdings, LLC, a portfolio company of The Capital Corporation. The investment is a first lien term loan utilized to refinance existing indebtedness. Capital Southwest serves as the sole administrative agent and lender on the credit facility.

"We are pleased to have the opportunity to partner with The Capital Corporation, and to support Capital Pawn’s continued growth,” said Josh Weinstein, Managing Director of Capital Southwest.  “Capital Pawn is a leading pawn operator in the southeastern United States. Capital Pawn has built an impressive leadership position in its markets and is led by a strong management team.  We also find attractive the full economic cycle performance of the pawn industry, which is counter cyclical in many respects.”

Capital Pawn provides loans for short-term cash needs to consumers in the southeastern United States and operates 18 pawn shops across Florida (12), Alabama (1), Mississippi (2) and Louisiana (3). Capital Pawn offers pawn loans, which are non-recourse loans collateralized by tangible personal property, such as jewelry, consumer electronics, power tools, sporting goods, musical instruments and other items; and sells merchandise, including collateral forfeited from pawn lending operations and used merchandise purchased from customers.  It does not provide pay-day loans or loans secured by auto titles.

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