First Capital provided a $5.5 million asset-based credit facility to Plastic Dress-Up Company (PDU), a South El Monte, California-based trophy and award supplier. The senior credit facility consists of a working capital revolver secured by accounts receivable and inventory.

First Capital was selected by PDU to provide the credit facility because of First Capital’s ability to create a flexible facility that would provide additional working capital and availability for seasonal demands. The new facility refinances the previous lender while the company completes a realignment strategy of its operations.

“The team at First Capital really came through for us in terms of building a flexible facility that met our needs and will be able to help us tackle future challenges we encounter,” stated Dennis Funk, COO and owner of PDU.  “The trophy and awards industry has evolved over the past decade and we’re proud to say we were also able to evolve and keep on top of customer demands and preferences.”

This transaction was referred to David Braff and will be serviced by First Capital’s Western Region located in Los Angeles, California, and managed by ABL Western Region Manager Matthew Grimes.

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. 

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 $1 million.  Lines of credit are in the form of asset-based loans, factoring or invoice purchasing arrangements ranging from $200,000 to $25 million.  Originally formed in 1988, First Capital is one of the largest independent asset-based working capital lenders in the country.