A subsidiary of First West Credit Union said the demand for itsspecialized subordinated debt financing services is growing.
“The economic uncertainty over the last few years caused somebusiness people to put important purchasing decisions on hold,"said Rob Napoli vice president at First West Capital, a division ofthe $6.3 billion First West Credit Union in British Columbia."However, there has recently been a change in attitudes towardbusiness acquisitions."
Formed in 2010, First West Capital has a $60 million fundestablished to provide subordinated debt and mezzanine financing tosmall- and medium-sized businesses. So far, six deals totalingnearly $6.5 million have been approved or funded.
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