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First Growth Capital Provides $4MM Facility to Material Handling Parts Distributor

June 18, 2013, 07:32 AM
Filed Under: Distribution

First Growth Capital, a division of First Capital, announced today that it has provided a $4 million working capital credit facility to a distributor of parts for the material handling industry.  The facility is collateralized by the client’s account receivables and inventory.  The company was looking for a new lender that would provide additional working capital to support growth.

“The company needed a working capital package that could refinance its existing lender as well as provide the availability for future growth,” remarked Jay Atkins, president First Growth Capital “Along with providing a flexible package, we were also able to tailor the facility to include inventory financing.”

First Growth Capital provides client services and business development from its location in Boynton Beach, Florida, managed by Jay Atkins, Executive Vice President and President of First Growth Capital, with regional sales offices in North Carolina, Los Angeles and Phoenix. 

First Capital provides working capital financing typically ranging from $3 million to $20 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $200 million.

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