10 Jan

FIRST NATIONAL CAPITAL PROVIDES $10.0MM FOR OIL RIG

FOOTHILL RANCH, Calif., (January 10, 2019) – First National Capital Corporation (FNCC), a full-service commercial equipment and aviation finance provider, has announced that they have provided financing for a NOV Drilling rig for $10,000,000 currently operating in the Permian Basin for one of the largest independent drilling contractors in the United States.

The customer stated that “We have a significant amount of trust and confidence in FNCC and relied on its knowledge, understanding and expertise within O&G, this is the 4th time that FNCC has provided us with financing for various rigs, top drives and other equipment. Additionally FNCC was instrumental in arranging a large revolving line of credit with a bank partner.  Although we received competitive proposals, those companies ability to fund was suspect. FNC’s team has provided us again with competitive terms, excellent service and was able to complete underwriting and funding in record time. We appreciate having a place to take our financing business and get a great customer experience with the best terms available”. “We realize that the O & G space recently has seen some difficult times, FNCC’s ability to get deals done in both good and not so good times makes them an excellent financial partner.”

Across a wide variety of industries and asset classes, First National Capital Corporation supports mid-sized and large companies by providing competitive equipment financing across an extensive variety of business and credit situations. FNCC has deployed more than $2.2B in capital to companies throughout the U.S. and Canada for equipment, project and aviation financing. First National was recently recognized by the Monitor as the 6th largest Independent Equipment Finance Company in the United States.

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