Daily News: October 29, 2014

First Capital Originates $62MM in Q3 Deals

First Capital announced it has originated 12 deals with $62 million of new credit lines in Q3/14 bringing the year’s total to $180 million.

The company said working capital lines of credit were extended to small and medium-sized businesses in distribution, food & beverage, professional services, telecommunication, manufacturing, and oil & gas industries. Deals were referred by private equity groups, turnaround consultants, regional banks and other asset-based lenders.

Deals were originated by market offices in LA, Atlanta, NY, Chicago, and Oklahoma City as well as by First Growth Capital, the national recourse factoring division of First Capital.

“First Capital achieved strong Q3 origination results in a very competitive market. For 2014 year to date, we are proud to have provided 30 companies with the timely and flexible financing they need to achieve success,” remarked Lee Wilson, chairman and CEO of First Capital.