First Capital Provides Plastic Dress-Up Company ABL Facility
First Capital announced it has provided a $5.5 million asset-based credit facility to Plastic Dress-Up Company. The senior credit facility consists of a working capital revolver secured by accounts receivable and inventory.
First Capital was selected by PDU to provide the credit facility because of First Capital’s ability to create a flexible facility that would provide additional working capital and availability for seasonal demands. The new facility refinances the previous lender while the company completes a realignment strategy of its operations.
“The team at First Capital really came through for us in terms of building a flexible facility that met our needs and will be able to help us tackle future challenges we encounter,” stated Dennis Funk, COO and owner of PDU. “The trophy and awards industry has evolved over the past decade and we’re proud to say we were also able to evolve and keep on top of customer demands and preferences.”
South El Monte, CA-based PDU is a trophy and award supplier.