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First Capital Provides $9MM Credit Facility to Generator Manufacturer

March 20, 2013, 07:29 AM
Filed Under: Manufacturing

First Capital, a specialized commercial finance company, announced it has provided a $9 million working capital facility to a manufacturer of generators. The new credit facility consists of a revolving line of credit collateralized by accounts receivable and inventory.

First Capital was selected as the working capital partner based on its ability to create a financing solution that would meet the company’s on-going working capital needs. The company is pursuing a growth strategy that includes realigning its customer base and operations to rebound from the recession.

This transaction was referred to Nick McDearis and will be serviced by First Capital’s ABL 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. Credit facilities are in the form of asset-based loans or factoring arrangements.

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