Gerber Finance, an eCapital company, closed a $7 million line of credit to Fair Harbor, a maker of sustainable swimwear, clothing and accessories. The deal was completed under Gerber Finance’s Naturally Gerber division, which works with companies within the natural products space, which includes clean label, organic and non-GMO products and sustainable design and packaging.
Founded in 2014 by Jake Danehy and Caroline Danehy, siblings with backgrounds in fashion and climatology, Fair Harbor is an active lifestyle brand that turns post-consumer recycled water bottles into swimwear and clothing with the goal of preventing pollution to Earth’s oceans. To-date, Fair Harbor has recycled more than 10 million plastic bottles, preventing waste from entering the ocean. Fair Harbor has experienced a steady rate of 1,000% year-over-year growth since before the COVID-19 pandemic and recently expanded its product offering beyond swimwear in addition to launching a kids’ line.
“We chose Gerber Finance for two reasons,” Jake Danehy, CEO of Fair Harbor, said. “First, they offer a more creative financing structure than we saw elsewhere in the market, and this structure will be pivotal in facilitating our continued growth. And we spoke with some of Gerber’s existing clients and they all said Gerber stands out by being a true partner through good times and bad. We’re most excited about that partnership as we work with Gerber to continue to build our business.”
“Fair Harbor has seen incredible growth, and we love Jake and Caroline’s passion and purpose,” Jennifer Palmer, CEO of Gerber Finance, said. “Fair Harbor’s model of turning recycled water bottles into clothing aligns with our commitment to fund companies giving back to the community and the planet through our Naturally Gerber Finance division, and we look forward to supporting their continued success.”