First Capital Provides ED MAP Revolver
First Capital announced it has provided a $7 million revolving line of credit to ED MAP. The senior credit facility consists of a $7 million working capital revolver collateralized by accounts receivable and inventory.
First Capital was referred to the company because of First Capital’s ability to refinance the previous lender, providing the company with additional liquidity and flexibility to support continued growth. ED MAP is a content strategy and logistics company that provides services and technology to simplify the discovery, adoption, management and delivery of quality educational content within the higher education marketplace.
“With ED MAP experiencing a growing need for and interest in our services and technology, we had been looking for a lending partner able to provide the flexible facility we needed to capture market opportunities,” remarked Gregory P. Smith, CFO of ED MAP. “First Capital took the time to understand our business and was able to provide a credit facility that allows us to profitably grow our business.”
Mark Schroeder, First Capital’s VP and BDO, stated “We are happy to partner with innovative, entrepreneurial companies such as ED MAP that need a lending partner who understands their unique challenges.”