“One day in retrospect the years of struggle will strike you as the most beautiful”
- Sigmund Freud, Austrian Psychiatrist (1856 – 1939)

“Forget the times of your distress but never forget what they taught you”
- Herbert Gasser, American Physiologist - Nobel Prize Recipient, 1944 (1888 – 1963)

Normally we start the Newsletter with a single thought provoking quote.  However, the two quotes above are similar in theme, timeliness, poignancy, and relevance so it was tough to just choose one.

We officially closed out the first half of 2010 at the end of June.  The first few days of July produced some very amazing news for First Star that I would like to share.  Our parent company just secured a substantial new funding facility from a large NYSE listed commercial bank.  This new credit facility is nearly twice the size of our last facility and positions us well for the coming years.  This represents a huge vote of confidence in our business and further validates the health of our company and the strength of our balance sheet.  This increase in our funding capacity comes at a great time, because demand for our services is at an all time high.

It is no secret that the last couple of years have been extremely challenging economically.  Although the equipment finance industry represents a small portion of the overall banking / lending industries we were not immune to these challenges.  However, we have weathered the storm while many of our competitors have exited the equipment finance market altogether.  Now that the dust has settled there is comfort in realizing that we are one of the survivors, and are heading into the next phase of the economic cycle with a more substantial capital base than we have ever had.

That was the first piece of great news.  The second extraordinary item to report is that when we reconciled the application and transaction activity for June; we realized that it was a new banner month in the history of First Star Capital.  In last months Newsletter, we mentioned that a new application milestone was set in April, and I am proud to report that June exceeded that April milestone by 157%. 

These two dynamics are sensational because they clearly validate the fact that the economic environment has stabilized and businesses are slowly beginning to grow again.  Year to date, the growth in demand for our equipment financing / leasing services has been pronounced.  The increased funding capacity will allow us to grow and continue to deploy capital to businesses of all sizes across the Country.

Thank you to everyone for continuing to hold First Star Capital in such high regard and for entrusting and relying on us for your equipment financing / leasing needs.  We are now better capitalized than we have ever been and look forward to the challenge of keeping pace with the increasing demand.

About First Star Capital

First Star Capital is an established national firm that has financed thousands of different businesses across the country and has funded hundreds of millions of dollars worth of capital equipment. We are an independent commercial lender with a specialty focus in equipment financing and leasing. First Star Capital is a direct lender with the ability to quickly and efficiently fund new financing requests between ten-thousand and ten-million dollars. Since we are a direct lender with our own funding and servicing capabilities we are able to deliver tangible value added financing solutions with the utmost flexibility. First Star Capital has the internal ability to underwrite a variety of different financing requests - nothing is too big or too complicated.

Brad Harmon

(800) 604-4817

Brad@FirstStarCapital.com

www.FirstStarCapital.com

Did You Know?

95% of all the dollar bills printed each year are used to replace notes already in circulation

  The National League has not won the All-Star Game since 1996 (there was a tie in 2002).

 The very first All-Star Game took place in 1933 in Chicago – the A.L. won by a score of 4 – 2

 Babe Ruth hit the first home run in All-Star Game history in 1933.

 From 1959 – 1962 two All-Star Games were played annually.

 John F. Kennedy threw out the ceremonial first pitch at the All-Star Game in 1962.

 Beginning this year the designated hitter will be used in all games, even in N.L. ballparks.

 Normally the managers of the All-Star Game are the managers who faced each other during the previous year's World Series.

 Only twice has the All-Star MVP been awarded to a person on the losing team (Brooks Robinson in 1966 and Carl Yastrzemski in 1970).

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