First Capital has renewed a $175 million senior secured facility with Germany-based DZ Bank. First Capital has said that it will use the facility to provide necessary asset-based working capital lines of credit to small-and-medium-sized businesses, in order to meet their liquidity needs.
John Kiefer, CEO of First Capital, said: “I am quite grateful to DZ BANK for renewing our credit facility and we look forward to a long-term, mutually-beneficial relationship with DZ BANK. We are very proud of how well First Capital’s people have pulled together during this credit storm. It is because of them and their dedication to quality and customer service that First Capital is doing as well now as we are.”
Christian Haesslein, assistant vice president at DZ BANK, commented: “We are very pleased to renew First Capital’s credit facility with us and we are thrilled to continue our long standing relationship with First Capital.”
Florida-based First Capital is a commercial financial services firm providing working capital solutions and outsourcing, primarily for middle-market companies and institutions in the US. The firm focuses on asset-based lending, accounts receivable management, credit protection, international supply chain financing and servicing for clients in North America and Asia.
DZ Bank Group provides capital markets, structured finance, corporate finance, private banking and transaction banking products and services.
