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First Capital Provides $8MM ABL Facility to Global Transportation Services

September 25, 2013, 07:50 AM
Filed Under: Logistics

First Capital announced that it has provided an $8,000,000 asset-based lending facility to Global Transportation Services, Inc., a leading third party logistics company.  The senior credit facility consists of an $8 million working capital revolver collateralized by accounts receivable.
First Capital was selected as the working capital partner based on its ability to structure a financing solution that provided additional working capital for the company to achieve its growth strategy. Proceeds will be used as part of a management buyout and for working capital needs.
Chris McKernan, Vice President and Business Development Officer stated, “We are excited to work with Global Transportation Services, Inc. as they enter the stage of their growth plan. The management team has the experience and qualifications to take the company to the next level.”
“We needed to find a lender that would provide the flexibility for us to take control of our business,” stated Jason Totah, President and CEO of Global Transportation Services, Inc. “The team at First Capital really took the time to understand our business and create a financing package that would allow us the maximum working capital to continue on our growth plan.”

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