NewStar Business Credit Provides Soft Air Revolver
NewStar Business Credit announced that it provided a $12 million revolving credit facility to Soft Air USA. Founded in 1987 as a marketing company for entertainment and sports related products, Soft Air has evolved into one of the top suppliers in the extreme sporting goods category.
As part of Cybergun Group World Wide, Soft Air markets a wide range of replica firearms known as airsoft guns, which are a special type of non-lethal air guns used mainly by extreme sports enthusiasts for combat simulation games, as well as police and military for training purposes. The company offers recreational airsoft and related sporting goods products under license agreements with recognized brand names in the firearms industry. The secured credit facility will be used to support the company’s ongoing working capital needs.
“We were happy to work with Soft Air’s management team to arrange a financing that will help them achieve their growth goals,” stated Milton Iskra, national marketing manager for NewStar Business Credit.
“We were looking for a lender who believed in our team and trusted in our ability to wisely run our business. We are pleased to find in NewStar, a pragmatic business partner who we can count on as we work together to drive improvements across our business units. I have been impressed with the NewStar team and look forward to a productive and valued relationship,” Joe Huston, CEO of Soft Air USA, said.