Seacoast Bank Purchases Receivables Funding Group

Seacoast Banking Corporation of Florida has purchased certain assets, factored receivables and employee expertise of First Growth Capital, a commercial accounts receivable funding and small asset based facility group.

First Growth Capital Provides $2.3MM in Q4/14 Credit Facilities

First Growth Capital provided $2.3 million in working capital credit facilities during Q4 2014. The various facilities are collateralized by the clients’ account receivables.

First Growth Capital Names Stredic VP/BDO

First Growth Capital announced the hiring of Sarah Stredic as vice president and business development officer. Stredic previously served at Security Business Capital.

First Growth Capital Provides $3.8 Million in Credit Facilities

First Growth Capital provided $3.8 million in working capital credit facilities during the months of July and August. The various facilities are collateralized by the clients’ account receivables.

First Growth Capital Provides $5.2MM in March Credit Facilities

First Growth Capital provided a total of $5.2 million in working capital credit facilities during March 2014. The facilities included $3 million for an electrical systems company.

First Growth Capital Provides Facility to Candy Distributor

First Growth Capital announced it provided a $1.5 million working capital credit facility to a distributor of novelty candy and other specialty foods.

First Growth Capital Hires Henry as VP

First Growth Capital announced the hiring of Kevin Henry as VP and business development officer. Henry will develop new business and marketing activities throughout Florida.

First Growth Capital Provides $3.5MM Facility to Apparel Distributor

First Growth Capital announced it provided a $3.5 million working capital credit facility to a distributor of outdoor apparel. The facility is collateralized by the client’s account receivables and inventory.

First Growth Hires Business Development Managers

First Growth Capital said it hired Shane O’Grady and Viet Ho as VP/business development managers based in Phoenix and Los Angeles, respectively.

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.