Entrepreneur Growth Capital Provides $4.5MM Asset-Based LOC to Sportswear Distributor

Entrepreneur Growth Capital provided a $4.5 million asset-based line of credit to a New York-based manufacturer, distributor and retailer of women’s sportswear. The facility includes a revolver based on accounts receivable and inventory and a $500,000 term loan._x000D_
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The seven-year-old company has experienced growth during the COVID-19 pandemic, largely due to an increased demand for women’s workout apparel. Although its in-person retail sales have been slow, its online sales and wholesale orders have made up for it._x000D_
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With plans for future expansion, the company called Entrepreneur Growth Capital based on a longstanding relationship. After receiving the funding from Entrepreneur Growth Capital, existing investors in the company felt more comfortable providing a Series C round to the company.