Full Circle Capital Announces New Senior Secured Loan Transactions

RYE BROOK, N.Y., Sept. 28, 2011 /PRNewswire/ -- Full Circle Capital Corporation (NASDAQ: FULL) ("Full Circle Capital") announced the closing of two senior secured loan transactions totaling $11.5 million in combined loan facilities. These two transactions are the latest in a series of financings completed by Full Circle Capital since June 30, 2011 that together total $30.3 million in first lien senior secured loans to four companies.

$7.0 million Senior Credit Facility to The Finance Company, LLC

Full Circle Capital closed a $7.0 million senior secured credit facility with The Finance Company, LLC, a consumer finance company headquartered in Spartanburg, South Carolina. The credit facility consists of a senior secured multi-draw term loan facility.  Proceeds of the financing were used to acquire Cashwell Financial of SC, LLC and affiliates and to fund future growth.

$4.5 Million Financing to iMedX, Inc.

Full Circle Capital also announced the closing of a $4.5 million senior secured credit facility with iMedX, Inc. ("iMedX"), a provider of web-based medical documentation services and related software products to small physician practices, clinics and hospitals.  The Company's products include TurboScribe (medical documentation), TurboRecord (electronic medical records) and TurboRx (electronic prescriptions).  iMedX is based in Shelton, Connecticut and has additional offices in South Point, Ohio and Hyderabad, India.  iMedX is a portfolio company of RFE Investment Partners, a New Canaan, Connecticut based private equity firm founded in 1979. The credit facility consists of a senior revolving line of credit and a multi-draw senior term loan facility.  Proceeds of the financing are to be used for debt refinancing, to fund growth projects and strategic acquisitions.

These two transactions are presented in the Recent Development section in the MD&A of the Company's SEC Form 10-K filed on September 21, 2011.

About Full Circle Capital

Full Circle Capital Corporation (Nasdaq: FULL) is a Rye Brook, New York based closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Full Circle Capital lends to and invests in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies that operate in a diverse range of industries. Full Circle Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments. For additional information visit the company's web site www.fccapital.com.

Forward-Looking Statements

This press release contains forward-looking statements which relate to future events or Full Circle Capital's future performance or financial condition. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Full Circle Capital's filings with the Securities and Exchange Commission. Full Circle Capital undertakes no duty to update any forward-looking statements made herein.

SOURCE Full Circle Capital Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED