First Growth Capital, a division of First Capital, announced today that it has provided $3.8 million in working capital credit facilities during the months of July and August.  The various facilities are collateralized by the clients’ account receivables.

The facilities include $1.5 million for an oilfield service company needing a new lender with tighter control over invoices and payments, $1.5 million for an energy equipment and supplies company, and $800,000 for a wireless equipment supplier needing working capital for growth.

“So far this year First Growth Capital has been able to assist a number of companies in finding the financing they need for seasonal financing, growth and working capital management,” remarked Jay Atkins, President of First Growth Capital. “The advantages of our financial management assistance in partnership with flexible financing packages has proven beneficial for companies looking for a quality invoice purchasing partnership to achieve their growth plans.”

First Growth Capital provides working capital facilities starting at $250,000 for small and middle-market business owners with annual revenue of at least $1,500,000 all the way up to $100,000,000. Credit facilities are in the form of recourse factoring and non-traditional asset-based lending arrangements.