Entrepreneur Growth Capital closed a $5 million asset-based facility for a European owned skinwear (undergarments, lingerie, swimwear etc.) manufacturer. The well-known brand was founded in 1950 and has had a retail presence in the US for decades. In addition to its robust worldwide business, it has a growing wholesale business with high-end department stores in the United States.  

The facility provides availability against both accounts receivable and inventory.  The owner has recently brought in new management and the funds will be used for new strategic initiatives and marketing.

Dean Landis, CEO of EGC stated, “This deal is unique in that EGC and the Company chose to work with a factor to provide credit and collection services. I think this will be a big advantage as the retail credit environment remains tricky and leading factors typically have close relationships with some of the more challenged credits.”