First Capital provides credit facility to Advanced Pipeline Services

First Capital, a national commercial finance company, announced that it has provided a US$ 6.8 million credit facility to Advanced Pipeline Services, LLC, a provider of construction, installation and maintenance services for oil and gas pipeline and field processing infrastructure. The senior credit facility consists of a US $ 5 million working capital revolving line of credit and a US$ 1.8 million term loan.

First Capital was referred to the company by Hasting Equity because of First Capital's knowledge and experience in the oil and gas industry. The financing was used to replace the previous lender and to provide additional working capital to fund company growth.

"Advanced Pipeline Services is a great example of the type of company that benefits from First Capital's flexibility and speed in structuring customised transactions that meet the customer's specific needs," remarked Michel Lynch, Vice President and Regional Business Development Officer. "We were able to work the company to create a facility that not only works for their current financing needs, but also provides for future growth."

"We were in need of a lender that could understand both our business and our industry," remarked Don Dickson, Chief Executive Officer of Advanced Pipeline Services. "First Capital was able to provide the additional working capital and flexibility we could not find through traditional lenders."

First Capital provides working capital financing ranging from US$ 2 million to US$ 20 million to small and middle market business owners with annual sales ranging from US$ 10 million to US$ 250 million. Credit facilities are in the form of Asset-Based lines of Credit.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/11122013/first_capital_provides_credit_facility_to_advanced_pipeline_services/