SLR Credit Solutions structured a unitranche asset-based credit facility to support Directional Capital’s acquisition of a collection of rent-to-own retail locations across the New York and New Jersey markets, via a new entity known as Purple Apple. In addition to acquisition financing, the SLR Credit Solutions facility provides additional liquidity for general corporate purposes.
 
Newly-formed by Directional Capital, Purple Apple purchased the stores from the rent-to-own retail franchisor Upbound Group, Inc. The retailer offers a flexible and easy omni-channel lease-to-own solution for customers to furnish their homes and access other durable goods they need and enjoy, affordably and without incurring a long-term obligation or relying on credit to finance a purchase. The Upbound Group is dedicated to driving innovation and upward momentum with a core belief in financial inclusion.