Daily News: April 15, 2014

First Capital Provides $5.8M ABL to Prototype Productions

First Capital announced it provided a $5.8 million asset-based credit facility to Prototype Productions. The facility was intended to increase availability.

“We have been fortunate to be able to increase the product offerings of PPI to include staffing and profession services,” stated Joe Travez, CEO and co-founder of Prototype Productions. “As our company has grown, so has our need for additional availability to pursue additional market opportunities. We are happy to have found a lender that can create a flexible facility tailored to our needs and look forward to a long-term financing relationship with First Capital.”

This transaction was referred to Jason Carmona by Brent Celestin of Fullcourt Advisors, a credit financing advisory services firm that helped represent the borrower in the underwriting process. This transaction will be serviced by First Capital’s Western Region located in Los Angeles, California, and managed by ABL Western Region Manager Matthew Grimes.

Since 1991, Prototype Productions has developed more than 230 operational, market-ready products for its clients in a diverse range of technology sectors.