TD Bank acted as sole lead arranger on the funding of a $20 million revolving line of credit for Betteridge Jewelers Group.
The company will use the proceeds to refinance an existing revolver and for additional growth capital.
“Betteridge is a 120-year-old family owned business and has a long history of offering highly sought-after watches and jewelry, and we are honored to be a part of their story as their new bank,” said Joseph Nemia, head of Asset-Based Lending, TD Bank. “TD Bank’s asset-based lending business supports clients through all phases of the business cycle, and we will continue to support Betteridge as they grow.”
Betteridge offers high-end jewelry, branded and pre-owned watches, silver and estate jewelry. The company operates four luxury retail jewelry stores with a flagship store in Greenwich, CT and its e-site. TD Bank’s financing enables Betteridge to implement a business strategy with new technology, purchase additional inventory and revamp the design of existing retail locations.
