Daily News: May 3, 2012

First Capital Provides $3MM ABL to Consumer Finance Svcs Provider


First Capital provided a $3 million Asset-Based senior credit facility to a consumer finance service provider specializing in title loans. The senior credit facility is collateralized by accounts receivable.

First Capital was selected as the working capital partner based on its knowledge of the title loan industry and its ability to create a financing structure that would provide working capital for growth and expansion. The company has an aggressive growth strategy with plans to open more locations in the near future.

This transaction was referred to Matt Simon and will be serviced by First Capital