Business Capital Funds Mezz Financing to Fitness Products Manufacturer
Business Capital secured a $1.5 million mezzanine debt financing facility for a company primarily known for its extensive line of patented, high-end fitness accessories which it manufactures and distributes. In addition to high-performance gloves, the company offers a full line of products for power lifting, strength training, home exercise and functional training which are found in most gyms and larger sporting goods retailers nationwide.
Business Capital was referred in by the client’s incumbent lender and was able to deliver intelligently structured, affordable subordinated debt financing which provided solid ground for a smooth vendor transition, higher profit margins and forward momentum in its plans for growth.
Peter Wentworth, VP at Comerica Bank commented, “We put our clients’ priorities first so when we learned one of them needed an infusion of working capital to support their vendor transition efforts, we referred our client to Business Capital to help. The transaction was completed very quickly and this is a great example of a successful collaboration.”
“In today’s lending climate, there are many challenges that can delay getting a client funded,” said, Chuck Doyle, managing director of Business Capital. “We work harder and smarter to overcome these obstacles and deliver exceptional results quickly for our valued clients and referral sources.”