An outdoor apparel manufacturer approached Republic Business Credit (RBC) for an asset-based loan when its existing senior lender could no longer support the company’s growth. RBC provided a $15 million asset-based loan and partnered with Change Capital to secure an additional $2 million junior debt facility. The combined financing was designed to enable the company to boost inventory ahead of its peak season, resulting in the company meeting its 2024 growth targets while already exceeding its spring 2025 projections by over 25%.
“It’s exciting when we can partner with dynamic leadership teams that are facing the working capital challenges of growth, and it’s rewarding to see their success once they have the right lender in their corner,” Robert Meyers, president of RBC, said. “We pride ourselves in fostering true collaboration with our clients and partners to achieve the best possible outcome for everyone involved.”
“We like partnering with founders that have a plan, a successful track record and a trusted senior debt lender that we have known for years,” Raffi Azadian, CEO of Change Capital, said. “Together with Republic, we’ve provided an incredible solution to accelerate the continued success of the company, and we look forward to telling its growth story in the future.”
“Since the deal has funded, the company has paid its key suppliers and seen significant growth in sales,” Eric Dorner, vice president in RBC’s Chicago office, said. “It has always been a highly profitable business and we are seeing that trend continue. The right partnership paves the way for success to follow.”
