First Growth Capital, a division of First Capital, announced the hiring of Jeffrey T. Reynolds as vice president in the Chicago and surrounding Midwest region. Reynolds will be based out of Chicago and will be responsible for marketing and business activities to meet the working capital credit needs of small and medium-sized businesses. He has 15 years of experience in originating, credit analysis, underwriting, portfolio management, factoring receivables and business development.

Prior to joining First Growth Capital, Reynolds was with Franklin Capital Network where he was responsible for business development, underwriting and negotiations nationwide. Other previous positions include senior vice president and senior credit officer for Silicon Valley Bank, president and CEO for Oxford Capital, and commercial loan officer for Bank One.

He is a member of the Commercial Finance Association (CFA), International Factoring Association (IFA) and Midwest Business Brokers and Intermediaries (MBBI). He has a Bachelor’s degree in Finance from Michigan State University and a MBA in Finance from Loyola University.

“Jeff is great addition to our team,” said Jay Atkins, president of First Growth Capital. “His experience and existing relationships within Chicago and the surrounding area will help in developing First Growth Capital’s position in providing attractive financing to small- and middle-market entrepreneurs.”

Reynolds stated, “First Growth Capital is known in the industry for having strong financial backing and has a reputation for being able to create flexible and customized packages. I’m happy to be part of a team that is able to offer both Asset-Based loans and Factoring facilities.”

First Capital provides working capital financing typically ranging from $3 million to $20 million primarily to small- and middle-market entrepreneurs with annual sales ranging from $10 million to $200 million.