First Capital Provides $9MM Facility to Generator Manufacturer
First Capital announced it provided a $9 million working capital facility to a manufacturer of generators. The new credit facility consists of a revolving line of credit collateralized by accounts receivable and inventory.
First Capital was selected as the working capital partner based on its ability to create a financing solution that would meet the company’s on-going working capital needs. The company is pursuing a growth strategy that includes realigning its customer base and operations to rebound from the recession.
First Capital provides working capital financing typically ranging from $2 million to $25 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.