GemCap has funded a $1.5 million loan facility to HYLETE, a manufacturer and online retailer of athletic performance apparel.  The facility is secured by inventory. 
 
“It can be challenging for an online retailer to obtain reasonably priced debt financing” said Garrett Potter, Chief Financial Officer at HYLETE. Potter further stated “GemCap stood out for its professionalism, expediency and willingness to understand and work with our business model.  We are happy to have them as partners in our continued growth.”
 
“Online retail inventory is a great example of the many types of assets we finance. We are pleased to have provided HYLETE an asset based revolving facility to provide them with working capital to support their new phase of growth” said Nathalie Butler, Senior Vice President at GemCap.  Butler added: “this is an exciting time for HYLETE, we are glad to be part of their continued growth and we look forward to a long relationship.”
 
GemCap, an innovative lending firm, provides senior-secured, commercial asset-based loans to low and middle-market businesses within the United States & Canada, as well as in-transit inventories en route to the United States. Loans range from $1 million to $10 million. Collateral groups include: inventories (consumer & industrial), receivables, and equipment.