Rosenthal & Rosenthal completed two separate multi-million dollar factoring deals with California-based apparel companies.
This first company is a women’s apparel brand of sustainable fashion that was in need of a new factoring arrangement when its current factor was no longer able to support the company and its growth plans. The client contacted Rosenthal to explore its financing options. In under a week, Rosenthal’s West Coast team fast-tracked a multi-million dollar factoring deal and helped the client exit a challenging situation with their existing lender.
“Closing a deal in a week’s time under normal circumstances is already quite a feat, so accomplishing that in the current environment is rather extraordinary,” Maria Contino, SVP and western region sales manager at Rosenthal, said. “We’re thrilled we were able to act so quickly to provide the support the client needed to move their business forward.”
The second company is an activewear, yoga and workout apparel brand that was facing challenges as the COVID-19 pandemic began to spread earlier this spring. While the company’s wholesale volume was down as a result of COVID-19’s impact on retail overall, the brand began producing PPE products. As a result, the company saw an uptick in its direct-to-consumer volume for those products.
When the company expressed concern with the credit standing of its wholesale customers, its accountant recommended factoring and referred the company to Rosenthal. Recognizing the company needed credit protection as well as support to take advantage of a new growth opportunity, Rosenthal provided a multi-million dollar factoring solution.
“Like many companies right now, this client saw an opening in the marketplace and an immediate opportunity to grow its business beyond their traditional product line,” Sydnee Breuer, EVP and western region manager at Rosenthal, said. “As a private, independent factor, we’re faster and more flexible than many larger institutional lenders, which can make all the difference for a client that’s shifting production and looking for creative ways to rebound from COVID-19 challenges.”
Rosenthal & Rosenthal is an independent factoring, asset-based lending and purchase order financing firm in the United States.
