Amerisource Business Capital funded a $1.5 million credit facility for a specialty apparel retailer of sports jackets, activity jackets and safety wear based in New York.
The company was introduced to Amerisource by its financial consultant. Proceeds of the facility were used to refinance the existing bank revolver and to provide additional working capital to support sales growth. The line is secured by the company’s assets with availability against accounts receivable and inventory.
Andy Allaire, market manager for Amerisource, said, “We enjoyed working with the company and its consultant, and we’re pleased we could achieve their objective of closing both the A/R and inventory lines in just 20 days. The company has a strong management team and an excellent reputation in its market, and we look forward to working with them as their business moves to the next level.”