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First Growth Provides $2.3MM in Q4/2014 Transactions

January 15, 2015, 07:22 AM

First Growth Capital, a division of First Capital, announced it provided $2.3 million in working capital credit facilities during Q4 2014. The various facilities are collateralized by the clients’ account receivables.

The facilities include $1 million for a cellular site maintenance company experiencing high growth, $.5 million for a wireless carrier maintenance and audit services company needing more availability, and $.8 million for a contract manufacturer looking for a flexible lender offering tailored financing facilities.

“We ended the year in a good position as we have a variety of clients and the industries to which they belong,” remarked Jay Atkins, President of First Growth Capital. “We encountered many companies in 2014 that needed our financing packages and quality invoice purchasing to help their businesses succeed.”

First Growth Capital provides working capital facilities starting at $250,000 for small and middle-market business owners with annual revenue of at least $1.5 million all the way up to $100 million. Credit facilities are in the form of recourse factoring and non-traditional asset-based lending arrangements.

First Growth Capital provides client services and business development from its location in Boynton Beach, Florida, managed by Jay Atkins, President of First Growth Capital, with an additional regional sales office throughout the United States. 

First Capital provides customized and timely working capital financing solutions primarily to small and middle-market companies engaged mainly in manufacturing, distributing and business services with annual sales greater than $1 million. Lines of credit are in the form of asset-based loans, factoring or invoice purchasing arrangements ranging from $200,000 to $25 million. Originally formed in 1988, First Capital is one of the largest independent asset-based working capital lenders in the country.

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