Daily News: July 17, 2013

First Capital Provides $2.3MM Facility to Acme Machell


First Capital announced it provided a $2.3 million credit facility to Acme Machell Company, a manufacturer of specialty rubber molded products.

The senior credit facility consists of a $2 million working capital revolver collateralized by accounts receivable and inventory, and a term loan in the amount of $295,000 collateralized by machinery and equipment.

This transaction will be serviced by First Capital’s ABL central region managed by John Curtis, EVP and ABL central region manager.

First Capital said it was selected as the working capital partner based on First Capital’s ability to create a flexible facility that would streamline supply-chain operations and allow for growth. First Capital was able to refinance the previous lender and provide significant additional availability.