Far West Capital Invests $1 Million in Capital for Probe Manufacturing

Based in Irvine, California, and founded in 1994, Probe Manufacturing is an electronic manufacturer which provides a global service that provides businesses the design and manufacturing services that they can count on. Probe will manufacture electronic devices for many different companies in its own factory, eliminating the need for businesses to have their own factories and an entire manufacturing department.

Probe announced on March 1, 2011, that it has secured $1 million in working capital from Far West Capital, which is one of the largest working capital providers in Texas and the dessert Southwest. The whole idea of investing in working capital, according to Far West, is to insight growth and expansion.

According to John Bennett, CFO of Probe Manufacturing, Far West Capital has been a key partner in providing the company with the customized capital that Probe needs to further expand its services. Mr. Bennett further added that this investment from Far West is a crucial milestone in the company’s life.

Probe has proven to be able to grow as it provides a valuable service for many businesses who need manufacturing but do not have factory space or facilities. Proof of this growth can be seen by a good 2010 that Probe has experienced. Furthermore, the quarter to quarter growth the company has experienced last year shows that it is able to pull through and expand even further.

Some of the manufacturing services that Probe Manufacturing provides serve a wide variety of different industries, which include medical, aerospace, defense, industrial, automotive, and instrumentation industries. Some of the services that the company provides include engineering, design, supply chain management, manufacturing, and program management.

The engineering that Probe provides its clients include the designing process of the item to be manufactured. This includes software design, electronics design, mechanical design, industrial design, and PCB design. Along with the design process, the company’s engineers also run tests to ensure that the product runs correctly. The engineering department also includes new product introduction which allows the client to work together with Probe’s team of engineers to assess the manufacturability of the product, documentation package review, and quick turn prototyping among other services provided to clients.

According to Cole Harmanson, the goal of Far West Capital is to help companies like Probe Manufacturing to succeed by providing them with working capital. Mr. Harmanson has further added that his firm is happy to help Probe Manufacturing and believes the company is likely to succeed.

Probe Manufacturing has factories in California as well as in other parts of the world.

Far West Capital is an investment firm that primarily invests in companies in the manufacturing, wholesale, distribution, high-tech and other industries within Texas and the dessert Southwest. The purpose of Far West Capital is to provide working capital to those companies who are starting out and are not able to get the capital they need to continue their operations. The capital that Far West provides are usually in the form of an advance that can range from $100,000 to $5 million. Far West does not disclose its portfolio companies.