Daily News: May 7, 2012

First Capital Provides $10MM to Pharmaceutical Distributor


First Capital provided a $10 million asset-based lending facility to a pharmaceutical distributor of skin, body & hair care products. The revolving line of credit facility is collateralized by accounts receivable and inventory.

First Capital was chosen as the preferred working capital lender because of its ability to customize a financing structure that provided additional working capital and facilitated the transition from traditional bank lender to commercial lender. Loan proceeds will be used to support ongoing working capital requirements during the company