Daily News: July 11, 2013

First Growth Finances Marketing Communications Service Provider

First Growth Capital announced that it provided a $1.5 million working capital credit facility to a provider of marketing communications services. The facility is collateralized by the client’s account receivables. The company was looking for a new lender that would provide working capital while the company completes its restructuring plans.

“The company has a long history of nearly 100 years in the printing industry but responded to the need to restructure and transition itself to a broader business definition coming out of the recession,” remarked Richard Lehrter, VP & BDO. “The company has a solid reputation with strong management and we are happy to be helping them with their financing needs.”

First Growth Capital provides working capital financing starting at $250,000 primarily to small and middle-market business owners with annual revenue of at least $1 million. Credit facilities are in the form of recourse factoring and non-traditional asset-based lending arrangements.