Daily News: January 25, 2012

First Capital Provides $6 Million ABL to Juice Producer


First Capital announced that it has provided a $6 million asset-based lending facility to a producer of branded fruit juices and beverages. The credit facility is collateralized by the client’s accounts receivable and inventory.

First Capital was selected as the working capital partner based on its ability to quickly create a financing solution that would be able to support sales growth as well as handle seasonal needs. The company has been experiencing rapid growth and required a lender that would be able to structure a financial package that provided flexibility.

Mark Orlando, vice president and BDO, stated, “We are pleased to have this opportunity to develop a relationship with the company and create a flexible financing package that responds to meet their seasonal funding and growth requirements. The company has a very unique product and a dedicated management team with an aggressive growth strategy.”

“First Capital is one of the largest independent lenders in the country and has great flexibility in structuring intricate and complex packages,” remarked Matt Grimes, ABL manager for First Capital’s Western region. “One of our strengths at First Capital is to work with companies to provide customized solutions they would not be able to obtain from a traditional lender.”

This transaction was sourced by Mark Orlando and will be serviced by First Capital’s Western region, managed by Ron Garber and located in Los Angeles.

First Capital provides working capital financing typically ranging from $3 million to $20 million primarily to small- and middle-market entrepreneurs with annual sales ranging from $10 million to $200 million.