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


First Capital Provides $13MM Facility to Specialty Chemical Manufacturer

January 28, 2013, 08:03 AM

First Capital provided a $13 million Accounts Receivable Purchase Facility to the U.S. subsidiary of a global manufacturer of specialty chemicals. The facility is in the form of a non-notification factoring agreement and is collateralized by a dedicated pool of the client’s accounts receivable.

First Capital was referred to the company by a European-based finance company because of First Capital’s ability to quickly develop a structure for the client’s U.S. based accounts receivable that complimented their European based facility. The facility provided the client, a global manufacturer of specialty chemicals, with liquidity to fund strategic initiatives.

“The company required a unique financing and creative structure that would provide liquidity under a True Sale arrangement,” remarked Kevin McGarry, executive vice president and national factoring division manager. “We worked collaboratively with a European based lender to seamlessly provide a global solution for the client to support of their strategic objectives.”

This transaction was referred to Kevin McGarry and will be serviced by First Capital’s Factoring Eastern 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.

Week's News

Comments From Our Members

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