Iron Horse Credit (IHC), a stand-alone inventory lender, closed a $3 million stand-alone inventory revolving line of credit to an e-commerce retailer of bedding and loungewear.
As a fourth-generation family involved in the textile industry, the client has developed a product of fabric blends that are radically soft, durable and practical. With a focus on creating a product that is sustainable and eco-friendly, its design is intended to keep waste to a minimum and be easily reusable. The company has experienced remarkable growth the last couple of years, close to tripling its sales in 2021.
Introduced by a trusted referral partner, the company looked to IHC to provide a tailored stand-alone inventory line of credit. Proceeds of the facility will allow the company to continue procurement of inventory to support ongoing demand.
“We are pleased to welcome this new relationship that has shown exponential growth,” Cesar Silva, vice president of business development at IHC, said. “We look forward to providing the company with the capital needed to meet its goals.”