Charles & Colvard, a jewelry company specializing in lab created moissanite and diamonds, entered into a strategic commercial banking relationship with JPMorgan Chase Bank. The relationship includes a $5 million credit facility following the termination of Charles & Colvard’s prior credit facility with White Oak Commercial Finance.
“I believe this transition is a great move for the company and positions us to be able to scale our business in a meaningful way,” Don O’Connell, president and CEO of Charles & Colvard, said. “We value JPMorgan Chase’s banking expertise and can tap into their creative solutions for all of our financial and banking needs. This strategic partnership allows us to execute on our key initiatives in order to take the business to the next level.”
“By aligning with a global financial firm like JPMorgan Chase, Charles & Colvard gains access to our global banking platform, expertise in e-commerce and innovative banking solutions to help fuel their momentum,” Leon Chisolm, commercial banking market executive for the Triangle region at JPMorgan Chase, said. “Charles & Colvard is at a perfect point to capitalize on their business model, and we are pleased to be their financial services provider as they grow and scale.”
