Cambridge Savings Bank’s asset-based lending team provided a $10.5 million credit facility to Stauer, a direct marketing retailer offering consumers affordable jewelry, watches, accessories and collectibles. Stauer will leverage the financing to repay its outstanding revolver and term loan balance, finance ongoing working capital needs, and support daily operations.
Founded in 2003 by Michael Bisceglia, Stauer’s mission is to revolutionize the jewelry industry by offering high-quality items at a lower cost than luxury brands. The jewelry retailer sells a range of mainstream and high-end products, available for purchase through catalogs, magazine ads, e-commerce, direct mail, and its call center. Based in Burnsville, MN, Stauer has ties to Needham, MA, through its sponsor, Stanfield Capital.
“Stauer has always prioritized delivering unparalleled quality, value and service to our esteemed customers,” Bisceglia said. “Cambridge Savings Bank stood out to us in our search for lending solutions because they employ the same customer-centric approach to everything that they do. CSB not only recognizes our clear opportunities for growth but also understands the unique needs of our business. They have been an invaluable resource as we identify solutions to meet our current and future goals.”
“At Cambridge Savings Bank, we strive to foster genuine relationships with each individual and business that we serve,” Yvonne Kizner, senior vice president of asset-based lending at Cambridge Savings Bank, said. “Stauer, being a like-minded partner, is eager to implement solutions that ultimately benefit their end client, which has made it easy to build a genuine connection. We are invested in the continued success of Stauer and committed to supporting its needs every step of the way.”
