Daily News: February 13, 2014

First Capital Provides ABL to Electronics Components Distributor

First Capital announced it provided a $6 million asset-based senior credit facility to a distributor of electronics components.

The new facility consists of a $6 million working capital revolver collateralized by A/R and inventory. It will provide a more flexible structure and create additional liquidity for the company during peak seasonal needs.

First Capital was selected as the working capital partner based on its ability to quickly obtain credit approval versus other potential lenders.

The transaction was sourced by Patrick Moody and will be serviced by First Capital’s Eastern Region, managed by John Nooney and located in Atlanta.

The company is a manufacturer of made-to-specification parts and a distributor of brand name components used by OEM equipment manufacturers.