Daily News: December 18, 2012

First Capital Hires Chaudhry as VP, Underwriter

First Capital announced the hiring of Sudhir Chaudhry as vice president and underwriter. Chaudhry will be based out of the ABL Western region headquarters located in Los Angeles and will be responsible for underwriting and risk analysis of new business for the ABL Western region. Chaudhry has over 20 years in the financial industry in credit and audit analysis, underwriting and portfolio management.

Prior to joining First Capital, Chaudhry was with Celtic Capital Corporation working in the Credit Division and also as an underwriter. Other previous positions include senior underwriter with Guaranty Business Credit Corporation, underwriter for Coast Business Credit, and senior credit examiner with The CIT Group.

Chaudhry as a BBA in Accounting from Delhi University and an MBA from Clarion University of Pennsylvania. He also is a Certified Public Accountant and a member of the Commercial Finance Conference of California.

“We have been very successful in our growth strategy in 2012 and as a result need to grow our underwriting capacity to handle the increase in origination development,” said Matt Grimes, executive vice president and regional manager of First Capital’s ABL Western region. “Sudhir’s experience in credit and underwriting processes will help us continue our goal of creating quick financing facilities to entrepreneurs in need and help our region reach its growth strategy.”

Chaudhry stated, “The ABL Western region has a strong pipeline created through excellent referral sources, addition of new Business Development Officers and strong teamwork. I look forward to the challenging and rewarding work of underwriting facilities for a wide range of industries and offering the tailored and flexible financing solutions First Capital is known for offering to its clients.”

First Capital provides working capital financing typically ranging from $2 million to $25 million primarily to small- and middle-market entrepreneurs with annual sales ranging from $10 million to $250 million.