Houston-based Advantage Business Capital, a nationwide provider of working capital through asset-based lending and accounts receivable factoring solutions, purchased Far West Capital. Advantage Business Capital has been a subsidiary of Central Bank, Houston’s oldest independent bank, since 2000.
Far West Capital will be held as a portfolio company of Advantage and will continue to operate as a secured asset-based lender and factor to select small and mid-market businesses, focusing its portfolios in asset-based lending, accounts receivable factoring and transportation factoring. Far West and all its current employees will remain at its headquarters in Austin, TX and at its branch location in El Paso, TX.
“Far West Capital is the ideal partner for Advantage Business Capital as we tackle the substantial growth in demand from new and existing small and mid-market business customers,” said Wayne Coker, president and CEO of Advantage Business Capital and executive vice president of Central Bank. “Far West Capital’s diversified platform represents a unique opportunity to partner with one of the leading ABL/Factoring firms in the country.”
