First Growth Capital Provides Facility to Candy Distributor
First Growth Capital announced today that it provided a $1.5 million working capital credit facility to a distributor of novelty candy and other specialty foods. The facility is collateralized by the client’s A/R and inventory. The company was looking for a new lender that would provide additional working capital while the company completes its restructuring plans.
“The company was looking for a lender that could offer more working capital than its previous lender,” remarked Jay Atkins, president First Growth Capital. “We were able to create a facility that allowed for maximum working capital including using its inventory as collateral.”