First Capital announced that it has provided an $8.5 million asset-based senior credit facility to manufacturer of outdoor and specialty signs. The senior credit facility is collateralized by accounts receivable and inventory.

First Capital was selected as the working capital partner based on its ability to tailor a financing solution that provided more flexibility. The company has a long and successful history and needed to find a lender that would provide financing with a larger availability than the previous lender. Proceeds will be used for working capital needs.

“The company has a very aggressive growth strategy but has not been able to capitalize on new opportunities due to limited working capital,” remarked Mark Pickering, Vice President and Business Development Officer in the ABL Eastern Region. “This new facility will allow the company to streamline their supply and distribution channels.”

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

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 or factoring arrangements.