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First Capital Provides $13.5MM Facility To Automotive Accessories Distributor

March 04, 2013, 07:56 AM

First Capital provided a $13.5 million asset-based senior credit facility to a distributor of automotive accessories.  The senior credit facility is collateralized by accounts receivable and inventory.

First Capital was selected as the working capital partner based on its ability to tailor a creative financing solution that provided more flexibility than their previous lender.

“The company has a very strong customer base that includes large retail distribution channels and as such, they needed to find a lender that would be able to create a facility that allowed extended dating terms,” remarked Jim Perrotta, vice president and business development officer in the ABL Eastern Region. “As an independent lender, First Capital has the ability to create flexible terms not found through traditional regulated lending channels.”

This transaction was referred to Jim Perrotta and will be serviced by First Capital’s Eastern ABL Region, managed by John Nooney and located in Atlanta, GA.

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. Credit facilities are in the form of asset-based loans or factoring arrangements.

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