Daily News: May 22, 2014

First Capital Originates $100MM of New Credit Lines

First Capital announced it has originated 14 deals with $100 million of new credit lines in 2014. Working capital lines of credit were extended to small and medium-sized businesses in distribution, food & beverage, professional services and oil & gas industries.

Facilities are in the form of asset-based loans and working capital credit facilities secured by trade accounts receivable and inventory and are designed for clients in turnaround, fast growth and merger and acquisition situations.

Deals were originated by market offices in LA, Atlanta, NY, Chicago, and Oklahoma City. First Growth Capital, the national recourse factoring division of First Capital, was also an important source of originations during this period.

“First Capital is off to a great start for 2014 and has a robust pipeline of opportunities with companies in need of working capital,” remarked Lee Wilson, CEO of First Capital.