First Capital, a national commercial finance company, has provided a $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 $5 million working capital revolving line of credit and a $1.8 million term loan.
First Capital was referred to the company by Hasting Equity because of First Capital’s 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.
First Capital provides working capital financing ranging from $2 million to $20 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 lines of credit.