Daily News: January 29, 2014

NewStar Closes Summit Golf Brands Revolver

NewStar Business Credit announced that it provided a secured revolving credit facility to Summit Golf Brands. Headquartered in Shelton, CT, Summit designs, produces and sells golf sportswear apparel through country clubs and retailers under the brands Fairway & Greene, EP Pro, and Zero Restriction.

The proceeds of the financing will be used to refinance existing debt and provide ongoing working capital for the company.

“We were pleased to have the opportunity to work with Summit to meet their unique financing objectives and to further expand our presence in the Northeast,” said Milton Iskra, national marketing manager. NewStar’s Nina Fairchild, an SVP located in the company’s Philadelphia office, originated the transaction.