First Capital Provides Facility to Aircraft Services Provider
First Capital said it has provided an $8.75 million asset-based senior credit facility to a provider of commercial aircraft services. The senior credit facility consists of a $7 million working capital revolver collateralized by accounts receivable and inventory, a term loan in the amount of $.75 million collateralized by machinery and equipment and a CAPEX loan in the amount of $1 million.
First Capital said it was selected as the working capital partner based on its ability to create a flexible structure that would replace previous financing commitments and allow for growth. Loan proceeds will be used to support ongoing working capital requirements.
This transaction was sourced by Mark Pickering and will be serviced by First Capital’ Eastern Region, managed by John Nooney and located in Atlanta, GA.