First Capital announced that Rob Garfalo has been promoted to Senior Vice President / Factoring Credit Officer.  Mr. Garfalo will operate out of the First Capital headquarters located in New York City where he most recently served as Portfolio Manager for the Northeast Region.
               
Mr. Garfalo brings over 30 years of Credit and Portfolio Management experience to his new position.  Prior to his position as Portfolio Manager with First Capital, Mr. Garfalo worked for JBDM Jewelry, LLC as Chief Operating Officer/Chief Financial Officer. Before that, Mr. Garfalo had previously worked at First Capital as Senior Vice President and Chief Credit Officer managing the West Coast Factoring Operations. Other prior positions include Western Region Portfolio Manager with Capital Factors, Inc. and various Credit Manager positions with Nat West Financial Service, Commercial Credit Financial Service and Chase Financial Services.  Mr. Garfalo has a BS in Accounting from California State University, Northridge.

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 or Factoring arrangements.

“I am thrilled that Rob will be taking on the Factoring Credit Officer role.  His deep knowledge of factoring, along with his portfolio management and industry expertise, is perfect for this position” said Gerard Hanabergh, EVP.  

Kevin McGarry, Executive Vice President and National Factoring Division Manager, adds, “Rob’s experience in the Factoring Division at First Capital will make this a smooth transition and I look forward to working closely with him in his new role.”

First Capital provides working capital financing typically ranging from $2 million to $25 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 New York City, the firm has additional full-service offices in Atlanta, Boynton Beach, Ft. Lauderdale, Los Angeles, and Oklahoma City with sales offices located across the United States.