Daily News: December 5, 2017

Liquid Capital Provides Financing to Dig It Apparel


Liquid Capital provided financing to Dig It Apparel, a manufacturer of utility/gardening gloves specifically designed to protect manicured nails.

Due to faster than expected growth and demand for product, the nine-year-old company first sought out credit through a number of other banks but, due to its+ still-new track record, turned to Liquid Capital instead. Liquid set up two tiers of financing – factoring and purchase order financing – to help cover the company’s manufacturing costs. The loan requirements were based on manufacturing need, with a $300,000 credit line made available to Dig It. However, the company was only charged interest on the money it actually used.

With financing in place, Dig It saw the needed growth to offer banks the solid projections necessary to obtain traditional financing. After a year and a half, with the additional aid of a bank line and investor funds, the company set its sights on expanding its line and moving further into the U.S. market, where its products will be carried by more than 120 retailers.