ATLANTA, GA, LINTHICUM, MD and BOCA RATON, FL.--(BUSINESS WIRE)--First Capital, a specialized commercial finance company, announced that it has provided a $10 million asset-based credit facility to First Service Networks, a multi-site facilities maintenance and repair specialist that works with clients in multiple industries including restaurant, retail, transportation and logistics.
First Service Networks works with clients to deliver quality on-demand and scheduled maintenance while lowering overall costs. First Capital was chosen to do the transaction because of its ability to quickly provide the client with a structuring solution that supports the client’s working capital requirements and future growth. Proceeds provide working capital needed to meet the company’s growth strategy.
“We are experiencing rapid growth as a result of obtaining new customers with multiple national locations,” remarked Mark McEneaney, CFO of First Service Networks.
“As a result we needed to find a commercial lender that could understand our business and maximize our available assets so we could concentrate on the execution of our growth strategy. First Capital was able to quickly create a financing package that allows us to continue to grow our business in a timely fashion.”
John Nooney (top right photo) Executive Vice President and MidSouth Regional Manager for First Capital, remarked, “First Capital was chosen to do the transaction as we understood the client’s challenges during a high-growth stage and were able to provide both the structure and certainty of timely funding to accommodate their business needs.”
This transaction was referred to Mark Pickering and will be serviced by First Capital’s MidSouth Region managed by John Nooney and located in Atlanta.
For further information relating to this deal or for working capital financing solutions in the MidSouth region, please contact Mr. Pickering or Mr. Nooney 678-594-5900.
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