First Capital Provides $7.5 Million to Sporting Goods Distributor
First Capital announced that it has provided a $7.5 million asset-based senior credit facility to a distributor specializing in sporting goods and related equipment. The senior credit facility is collateralized by accounts receivable and inventory.
First Capital was selected as the working capital partner based on its ability to create a financing structure that would replace previous financing commitments with access to more liquidity and greater flexibility for seasonal fluctuations in A/R and inventory.
This transaction was sourced by Mark Pickering and will be serviced by First Capital’s MidSouth region, managed by John Nooney and located in Atlanta.
First Capital provides working capital financing ranging from $2 million to $15 million primarily to small and middle-market business owners with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of asset-based loans or factoring arrangements.