Rosenthal & Rosenthal completed three transactions in the apparel and outdoor sectors, including a $1 million factoring deal for an outdoor apparel company, a $5 million asset-based loan for an apparel brand and a $1.5 million purchase order financing program for a luxury outdoor home goods company.
An apparel company was seeking a new financing solution after its long-standing bank lender was no longer able to maintain the level of service the client required. As the company’s needs were changing, it was looking for a relationship lender that understood its business and could offer more flexibility than its existing lender. Rosenthal stepped in to provide $1 million in loans for $7 million in factored volume to support the company’s seasonal needs.
An experienced executive in the apparel industry was looking for more flexible financing to support his expanding business. The company was profitable, high-performing and growing quickly, but its existing bank lender could not support the evolving needs of the business. Rosenthal offered a $5 million asset-based loan that addressed the company’s specific growth needs, without the red tape that it experienced with its previous bank lender.
“With our personalized service and outside-the-box financing solutions, Rosenthal is one of the few remaining true relationship lenders in the alternative financing space,” Maria Contino, EVP and West Coast regional sales manager at Rosenthal, said. “Clients come to us because we take the time to understand their businesses and thoughtfully tailor our services and solutions to help companies meet their growth goals and tackle challenges head on.”
A luxury outdoor home goods brand was in need of purchase order financing to support several significant growth opportunities that would allow the company to bring on larger customers. The company was introduced to Rosenthal by a veteran industry executive who was also an existing Rosenthal client. Rosenthal’s purchase order financing team moved quickly to provide a $1.5 million purchase order financing facility, which included funding via letters of credit and cash against document payments to overseas factories.
“We are pleased that we were able to offer purchase order financing as a reliable tool to assist with funding several of the client’s factories in various countries, all of which required different forms of funding, from letters of credit to cash against documents,” Megan Flaherty, SVP and underwriting manager for purchase order financing at Rosenthal, said.
Rosenthal was also recently recognized by the Export-Import Bank of the United States (EXIM) as a delegated authority lender to serve as a pre-qualified resource for exporters looking for working capital loans and other EXIM-backed financing.
“We are proud to have been appointed by EXIM as a Delegated Authority Lender and we are excited to work with exporters across the country to provide non-bank financing solutions that will help grow their businesses internationally,” Peter Clement, SVP of international factoring at Rosenthal, said.
