First Financial
Business Capital Overview

First Financial Business Capital is a division of First Financial Bank, which is a subsidiary of First Financial Bancorp. Our consistently high ratings and excellent capital position allow us to provide your business with the comfort and confidence that comes from building a stable and reliable financial relationship.

First Financial Business Capital provides asset-based and structured cash loans* to companies east of the Rockies with revenue between $15 million and $125 million that are owned directly by entrepreneurs and private equity sponsors.  

*All terms and conditions subject to credit approval.

Asset-Based Lending

Client Profile:

  • Growth companies, seasonal businesses, and cyclical industries
  • Companies with higher leverage, thinly capitalized or asset dependent (manufacturers or distributors)
  • Pro-forma leverage up to 10x's (EBITDA with add-backs)
  • % of Term Loan not to exceed 50% of total Credit Facilities
  • Excess Availability at close generally no less than 10% of the Revolving Credit Facility
  • Minimal Financial Covenants
  • Market generally 500-mile radius of Cincinnati, however sponsored transactions generally east of the Rockies
  • Up to 90% on A/R based on dilution
  • Up to 85% of Net Orderly Liquidation Value of Inventory (supported by third party appraisal)
  • Up to 75% of Orderly Liquidation Value of M&E or 90% of the Forced Liquidation Value with amortization up to 10 years
Recent Deals

Here are a few of our recently closed asset based lending deals

ABL - Stretch, Loan B/Mezzanine

Client Profile:

  • Generally, any company with an additional lending need greater than the availability generated from conforming Rates of Advance against the company assets composed of Accounts Receivable, Inventory, Machinery and Equipment and Real Estate Rates. We can support such lending need by providing a Term Loan B or Mezzanine term loan structure supported by a company’s excess cash flow.
  • Often provided to support debt recapitalization, distributions to its shareholders, or some form of acquisition financing.
ABL - Stretch Term Loan B:
  • Pro-forma leverage generally not to exceed 4.5x’s EBITDA
  • Term Loan B amortization up to 3 years with cash flow recapture
  • Conforming ABL Rates of Advance
  • Minimal Financial Covenants
  • Stable cash flow stream (allowable add-backs) to allow Fixed Charge Coverage in excess of 1.2x’s

Mezzanine Loan:

  • Provided only with FFB Senior Credit Facilities
  • Pro-forma leverage generally not to exceed 4.5x’s EBITDA (with allowable add-backs)
  • Loan structure interest only, 5 year bullet amortization. Excess Cash Flow repayments permitted.
  • Stable cash flow stream (allowable add-backs) to allow Fixed Charge Coverage in excess of 1.2x’s
Recent Deals

Here are a few of our recently closed deals

Structured Cash Flow

Client Profile:

  • Generally limited to PEG (sponsored) acquisition target financing and ongoing working capital needs.
  • Target companies located east of the Rockies in manufacturing, distribution and select business services.
  • Senior Term Loan based on a multiple of EBITDA
  • Funded Senior Term Loan based on up to 3x’s EBITDA
  • (with allowable add-backs) with a predominantly Unfunded Revolver.
  • Total Funded Leverage not to exceed 4.0x’s EBITDA (with allowable add-backs)
  • Senior Term Loan amortization up to 10 years with acceptable excess cash flow provisions
  • Stable cash flow stream (allowable add-backs) to allow Fixed Charge Coverage in excess of 1.3x’s
  • Acceptable PEG (Sponsor) to First Financial Bank.

Recent Deals

Here are a few of our recently closed deals

Banking Tailored to Your Business

How do you know your business is headed in the right direction? It's your life, your vision, your 365-days-a-year obsession. In a few easy steps, our Small Business Analyzer will help us determine the best financial solutions for your business. We’ll then follow up personally to begin an authentic relationship with one goal – your success

Let us help your business on the path to success

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