First Capital, a specialized commercial finance company, announced that it has provided a $15 million asset-based senior credit facility to a manufacturer and distributor of household furnishings.  The senior credit facility consists of a $15 million working capital revolver collateralized by accounts receivable and inventory.

The company needed to refinance its existing debt facilities to facilitate a management buyout. First Capital was able to create a tailored financing facility that maximized the company’s assets and allowed for additional liquidity.

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

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.  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.   Originally formed in 1988, First Capital is one of the largest independent asset-based working capital lenders in the country.