BOCA RATON, Fla., April 10, 2012 /PRNewswire/ -- First Capital, a leading commercial finance company, announced today that it provided over $85 million in new credit commitments during the first quarter of 2012. Over $300 million of new credit commitments are planned for this year.
First Capital provides working capital financing from $3 million to $15 million primarily to small and middle-market business owners with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of asset-based loans or factoring arrangements.
"The success of First Capital's first quarter of 2012 has shown the value of First Capital's business model in the market. We are able to provide funding to businesses where small finance companies don't have the capacity and regulated banks don't have the speed and flexibility," said Lee Wilson, Chairman and CEO of First Capital.
First Capital closed 13 deals in the first quarter of 2012, ranging from $1.5 million to $15 million across various industries throughout the United States including energy, manufacturing, apparel, food service, transportation and other business-to-business services. Some of the event-driven challenges of these companies included high growth or restructuring and turnaround situations.
With over $750 million in assets under management, First Capital is one of the largest independent Asset-Based working capital lenders in the United States. For more information about First Capital's products and services, please call us at 877-897-3223 or visit www.firstcapital.com.
About First Capital
First Capital provides working capital financing typically ranging from $3 million to $15 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of Asset-Based Loans, Factoring Arrangements or Invoice Purchasing handled by the First Growth Capital division. First Capital is one of the largest independent Asset-Based working capital lenders in the United States. Headquartered in Boca Raton, Florida, the firm has additional full-service offices in New York, Los Angeles, Atlanta and Oklahoma City with sales offices located across the United States. For more information, please visit www.firstcapital.com.
SOURCE First Capital