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United States : FIRST CAPITAL allocates asset-based senior credit facility to Pipes and Valves Distributor

August 27, 2014

First Capital has declared the provision of an $8.85 million asset-based senior credit facility to a regional distributor of pipes, valves and fittings.

First Capital is a specialized commercial finance company. The senior credit facility includes an $8 million working capital revolver collateralized by accounts receivable and inventory and an $850,000 term loan.

For bolstering the company s availability and enable for short-term liquidity, the company has to refinance its current senior debt facilities. First Capital could quickly create a tailored financing facility that permitted additional structural advantages over the previous lender.

Mark Pickering sourced the transaction, which will be serviced by First Capital s Eastern Region, managed by John Nooney and located in Atlanta, Georgia.

First Capital delivers working capital financing ranging from $2 million to $25 million primarily to small and middle-market business owners with annual sales ranging from $10 million to $250 million.

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Source: TendersInfo (India)

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