California Bank of Commerce completed a $4 million asset-based revolving credit facility with a wholesale reseller of porcelain cookware and dinnerware.
The wholesale reseller initially engaged California Bank of Commerce when it sought to establish a relationship with an asset-based lender better suited to help it navigate its current credit needs and future plans. The reseller will use the credit facility to pay off an existing facility with an incumbent lender and to support accounts receivable and inventory.
The Northern-California based company was founded in the 1950s. The company’s French founder sought to bring French ovenproof porcelain, traditional tin‐lined copper cookware, professional bakeware, cutlery and other kitchen necessities to the United States’ West Coast. Today, the business continues to serve the gourmet marketplace and foodservice industry with a selection of porcelain and ceramic cookware, as well as kitchen tools and gadgets.
