Entrepreneur Growth Capital Provides $4.5MM ABL

Entrepreneur Growth Capital (“EGC” or “Entrepreneur”) is pleased to announce that it has provided a $4,500,000 asset-based line of credit to a New York based manufacturer, distributor and retailer of women’s sportswear (the “Company”).

The seven-year-old fast growing company saw unprecedented growth during the pandemic, largely due to the increased demand for women’s workout apparel.  Although its retail was slow, its online sales and wholesale orders more than made up for it.  With plans for future expansion, they called EGC based on a longstanding relationship.  The facility includes a revolver based on accounts receivable and inventory and a $500,000 term loan.  With this funding, existing investors felt even more comfortable providing a Series C round that will make this popular brand even more well-known and be able to provide a wider variety of private label merchandise.

Originally founded in 1937, EGC is one of the oldest and largest independently owned asset-based lenders in the United States. Throughout its 84-year history, it has always served the ENTREPRENEUR who is seeking GROWTH and in need of CAPITAL.

For further information, please contact Dean Landis at 212-838-4858.