LOS ANGELES & BOCA RATON, Fla.--(BUSINESS WIRE)--First Capital, a specialized commercial finance company, announced that Matthew Grimes has joined the company as Senior Vice President and Western Region ABL Manager. Mr. Grimes will be responsible for all ABL business activity throughout the Western Region including marketing, portfolio management and business development.
Mr. Grimes has over 20 years of experience in corporate and commercial lending with an emphasis on restructuring, divisional start-ups, and new business development in multiple service, manufacturing and business industries.
“We are very pleased to have Matt join the Western Region in such a major role,” said Ron Garber, Executive Vice President & Western Regional Manager. “His experience in business development in the West Coast area and his existing network of referral sources in the area will enhance First Capital’s position as a major lender to the Western Region.”
Mr. Grimes stated, “I am excited to be joining First Capital as the ABL Manager for the Western Region. First Capital has two distinct advantages. One, we are independently owned and therefore not subject to certain banking regulatory requirements which allows us to provide flexible capital structures to companies that are performing or in a distressed situation. Two, our flat management structure allows for quick access to key decision makers and provides timely funding that lets our clients capitalize on opportunities and concentrate on the operations and growth of their company.”
Lee Wilson, President and CEO of First Capital, remarked, “Bringing Matt to the First Capital team demonstrates our commitment to ABL.” Wilson added, “We selected Matt for the reason that he is exceptionally qualified in structuring event-driven deals and is the right person to grow First Capital’s ABL lending throughout the Western Region.”
Prior to joining First Capital, Mr. Grimes held positions with CRG Partners, LLC, Atlas Capital Limited, Goldentree Asset Management, L.P. and various positions at Tennenbaum Capital Partners, LLC., Wachovia Capital Finance Corp., Barclays Business Credit, Inc., and Price Waterhouse. Mr. Grimes is a Certified Public Accountant (CPA), has a bachelor’s degree from the University of California, Berkeley and an MBA from the Marshall School of Business at the University of Southern California.
About First Capital
First Capital provides working capital financing typically ranging from $3 million to $20 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $100 million. Credit facilities are in the form of Asset-Based Loans or Factoring loans to support growth, acquisitions, turnarounds and restructurings. First Capital is one of the largest independent Asset-Based working capital lenders in the United States. Headquartered in Boca Raton, Florida, the firm has additional full-service offices in New York, Los Angeles, Atlanta and Oklahoma City with sales offices located across the United States. For more information, please visit www.firstcapital.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6792217&lang=en