First Capital, a specialized commercial finance company, announced that it has provided $22.5 million asset-based senior credit facility to a manufacturer of illumination products.  The senior credit facility consists of a $22.5 million working capital revolver collateralized by accounts receivable and inventory.

The company needed to refinance its existing senior debt facilities to handle challenges created by high growth and shifts in customer orders. First Capital was selected as the working capital partner based on its ability to create a flexible structure that would allow the company to realign manufacturing and operational processes.

This transaction was sourced by Mark Pickering and will be serviced by First Capital’s Eastern Region, managed by John Nooney and located in Atlanta, Georgia. 

First Capital provides working capital financing ranging from $2 million to $25 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, factoring or invoice purchasing arrangements.  First Capital provides customized and timely working capital financing solutions primarily to small and middle-market companies engaged mainly in manufacturing, distributing and business services with annual sales greater than $10 million.