Daily News: June 24, 2014

First Capital Provides $22.5MM ABL to Illumination Manufacturer

First Capital provided $22.5 million asset-based senior credit facility to a manufacturer of illumination products. The senior credit facility consists of a capital revolver collateralized by A/R and inventory.

The company needed to refinance its existing senior debt facilities to handle challenges created by high growth and shifts in customer orders. First Capital was selected as the working capital partner based on its ability to create a flexible structure that would allow the company to realign manufacturing and operational processes.