Republic Business Credit provided an asset-based loan to TRUE linkswear, a golf footwear and apparel company that sought a long-term financing partner that understood the e-commerce and wholesale market strategy of the company.
TRUE was founded in 2009 by brothers Ryan, Jason and Jeremy Moore. Ryan Moore is a five-time winner on the PGA Tour. The brothers founded the Tacoma, WA-based company to develop a more modern golf shoe. The company has expanded into lifestyle golf footwear and apparel offerings, including its “Dead Golfer” collection.
TRUE primarily sells through its own e-commerce website but also has partnerships with country clubs and resort pro shops across the U.S., as well as online sellers like Amazon. The company’s flagship retail partners include Bandon Dunes, Pebble Beach, Sand Valley, Austad’s, and Puetz Golf. In 2024, it will be expanding its relationship with larger retailers such as Dick’s Sporting Goods, Scheels and the PGA TOUR Superstore.
Republic Business Credit’s asset-based loan provided TRUE with the working capital to accelerate its growth plans, develop new products and launch partnerships with more retailers. Additionally, Republic Business Credit worked with TRUE to tailor the offering to fit the company’s near and long-term needs, including an accordion option as well as a structured six-month over-advance during the low season to help the company bring in new inventory, as orders have already exceeded 110% of 2023 bookings.
“In Republic, TRUE found a long-term partner that can accelerate their growth with a dynamic debt solution,” Ryan Greene, a sponsor of TRUE and partner at KarpReilly, said. “We are proud to have TRUE in our portfolio of companies and believe this partnership will further support our investment.”
TRUE is currently led by CEO, Jason Moore, and backed by private equity fund KarpReilly, an existing partner of Republic Business Credit.
“Republic was the right partner because of who they are, not just what they do. They share a founder’s mindset that allows us to confidently grow our business,” Jason Moore said.
