First Capital Provides Household Furnishings Manufacturer ABL
First Capital announced that it has provided a $15 million asset-based senior credit facility to a manufacturer and distributor of household furnishings. The senior credit facility consists of a $15 million working capital revolver collateralized by accounts receivable and inventory.
The company needed to refinance its existing debt facilities to facilitate a management buyout. First Capital was able to create a tailored financing facility that maximized the company’s assets and allowed for additional liquidity.