Daily News: September 18, 2014

First Capital Provides ABL to Surf Accessories Manufacturer

First Capital announced it provided a $7 million ABL to a manufacturer of stand-up paddleboards and surf accessories. The facility consists of a $7 million working capital revolver collateralized by A/R and inventory.

The company needed to refinance its existing senior debt facilities to expand its borrowing capabilities to include flexible seasonal financing, extended terms and additional liquidity.