Wintrust Business Credit Announces $100 Million Asset-Based Line of Credit for Sporting Goods Distributor

Wintrust Business Credit (WBC) announces the closing of a new $100 million asset-based revolving line of credit to this Midwest-based distributor. WBC acted as the administrative agent and lead arranger for the new credit facility.   

The company is a prominent distributor of equipment used for recreational activities, including hunting, fishing, and water sports. It principally conducts its sales on a wholesale basis, serving clients such as Amazon, other big-box retailers, and distributors. Additionally, the company offers online order fulfillment services for businesses operating e-commerce websites.

The company had a 20+ year relationship with its former bank, but it had outgrown the prior institution’s capabilities, as it needed to upsize its line of credit to support numerous growth opportunities. The company’s management team was impressed with WBC’s relationship approach and robust capital markets expertise. The new partnership with WBC amounts to a significant increase in the company’s access to liquidity, which will give the leadership team the working capital support they need to execute their strategic growth initiatives. In addition to the line of credit, WBC is also providing a full suite of treasury management products and services. 

According to Jason LeuVoy, WBC National Head of Originations, “The management team here has done an incredible job growing the company over the years, given some of the limitations of its previous banking partner. We are looking forward to seeing where the team will be able to take the company with WBC’s support.” LeuVoy added, “As we continue to expand WBC’s geographic footprint, our relationship approach with how we look at new business opportunities has resonated with the management teams of our middle market borrowers. Taking the time to truly understand our prospective clients’ underlying business and associated financing needs is the foundation of successful long-term partnerships with our clients.”

For more information, please contact Jason LeuVoy at 312-550-3056 or jleuvoy@wintrust.com.

Banking products provided by Wintrust Financial Corp. banks.

About Wintrust Business Credit

Wintrust Business Credit is a division of Wintrust Bank, N.A. WBC provides asset-based, working capital lines of credit and term loans from $10 million to $100 million for middle market companies around the country that want to maximize their borrowing capacity to meet current and future liquidity needs with a flexible and cost-effective structure.

About Wintrust

Wintrust is a financial holding company with $64.9 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.