Daily News: August 17, 2012

AloStar Business Credit Provides Financing to Phoenix Footware

AloStar Business Credit said it has provided a $7 million secured revolving credit facility and a $250,000 term loan for Phoenix Footwear Group, a women’s footwear manufacturing and marketing company.

“Phoenix Footwear Group has a strong plan for continued growth and owns two brands favored by consumers and demographics,” said Andy McGhee, president of AloStar Business Credit, the bank’s lending arm. “We’re thrilled to provide the capital they need to reach their business goals.”

Carlsbad, CA-based Phoenix Footware has a 130-year history in manufacturing and marketing footwear and apparel. The company is focused on its two legacy brands, Trotters and Softwalk, which are carried by approximately 650 retailers in more than 900 locations throughout the U.S.