Daily News: October 9, 2012

First Capital Hires Sammons as VP, Underwriter

First Growth Capital, a division of First Capital, announced the hiring of Joseph Sammons as vice president and underwriter. Sammons will be based out of the Boca Raton First Growth Capital headquarters and will be responsible for underwriting and risk analysis of new business for the First Growth Capital division. Sammons has over 25 years in the financial industry in business development, underwriting, portfolio management and commercial banking.

“Joe has the right experience and expertise to help First Growth Capital in our growth strategy,” said Jay Atkins, president of First Growth Capital. “His numerous years of work in different aspects of the financial industry will help in executing originations so our clients are able to get the funding they need to grow their business.”

Sammons stated, “I am excited about joining First Growth Capital in the underwriting department and being part of the sales process. Being able to offer a tailored package backed up with certainty of funding is one of First Growth Capital’s many benefits and gives First Growth Capital a competitive advantage.”

Prior to First Capital, Sammons was with Briar Capital, L.P. as a portfolio/operation manager. Previous positions include relationship manager at Wells Fargo Business Credits, Inc., portfolio manager at HSBC Business Credit, Inc., senior underwriter at Coast Business Credit and account administrator at NCNB National Bank of Florida. He is a graduate of the Salisbury State University in Salisbury, Maryland.

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.