Daily News: July 25, 2013

First Capital Provides A/R Facility to Software Company


First Capital announced it has provided a $10 million working capital facility to a software sales and service provider. The senior credit facility consists of a $10 million working capital revolver collateralized by accounts receivable.

First Capital said it 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 and allow for growth.

“The company initially has trouble finding a lender that was able to work with their unique corporate structure,” stated Nick McDearis, business development officer. “We were happy to work with the company to find a financing solution that would align with their growth strategy.”