Daily News: October 30, 2013

First Capital Enters Factoring Agreement with YS Garments

First Capital announced it entered into a factoring agreement with YS Garments, dba Next Level Apparel. First Capital will be providing collections and credit guarantee services for YS Garments.

First Capital was chosen as the factor due to its ability to accommodate the client’s growing customer base and provide flexibility for continued growth. First Capital was also able to work the service agreement seamlessly into the company’s financing strategy as well as provide additional customer lines of credit to support future growth.

“First Capital was able to give us the quick turnaround we were looking for in a factoring company, as well as work with our current lending partnerships,” stated Yosef Simoly. “Having a factor that can streamline our collections will allow us to concentrate on other areas of our business including our growth strategy.”

Tom Sullivan, vice president and business development officer, stated, “YS Garments represents the type of company that fits with First Capital’s Factoring program. The management has a solid successful sales history as well a solid business plan. First Capital has an excellent factoring and credit protection program and we are happy to be able to enter this partnership with YS Garments.”

This transaction was referred to Tom Sullivan and will be serviced by First Capital’s Factoring Western Region managed by Ron Garber.