June 10, 2021
BDC Capital provided a $4 million revolving asset-based line of credit to an importer of licensed and private label apparel based in New England. The privately-held company saw an increased demand for its leisure apparel during the pandemic.
Given the significant increase in volume, their existing lender provided a larger line of credit but a seasonal funding gap created a challenge. A BDC Capital revolving line of credit was customized to satisfy the seasonal borrowing requirement. The BDC credit facility is secured by a junior position on all business assets, inventory, and owner-occupied real estate. The combination of BDC Capital and a local bank resulted in increased working capital capacity to meet the projected growth.
ABOUT BDC CAPITAL:
The oldest business development corporation in the United States, BDC Capital has been recognized locally and nationally as a leader and innovator in business lending and capital investment. More than 30 of New England’s leading financial institutions invest in BDC to help promising companies expand. Since our creation in 1953, we have invested more than $1 billion in thousands of companies in New England.
Whether the need is $500,000 or $5 million, BDC Capital provides a wide range of financing solutions. We offer asset-based lines of credit, senior debt, junior secured debt, mezzanine investments and private equity options, all of which are customized to suit the needs of a business.
Our affiliate, CDC New England, provides SBA 504 loans for owner-occupied real estate and equipment.
For more information, visit our web site, call us at 781-928-1100, or contact:
Carol C. Brennan