TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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February 9, 2022
Source: GlobeNewswire
New York, NY, Feb. 08, 2022 (GLOBE NEWSWIRE) -- 5 Star Apparel, which styles and manufactures many of the best-known names in fashion, announced a new $125 million credit facility to support its existing operations and continued expansion. IDB Bank was the lead agent and one of three banks financing the credit facility.
The home of brands includes but is not limited to True Religion, Lee Jeans, IZOD and Eddie Bauer. 5 Star Apparel has worked with IDB Bank since its inception in 2003. The Oved, Betesh and Pardo families are owners of 5 Star Apparel. Additionally, the Oved Brothers have been customers of IDB Bank for over 40 years.
“In the apparel business, IDB Bank is the only bank we’ve ever used,” says Isaac Oved. “For over forty years, they have been responsive partners, listening to our needs as the business changed, and our needs evolved.”
“Our longstanding relationship with 5 Star Apparel has given us a front-row seat for its spectacular growth. Even in challenging times, we’ve been there with cash flow and financing solutions,” says IDB First Vice President Barry Solomon. “This credit facility will support 5 Star Apparel as it continues to expand and evolve.”
“With a sophisticated lending platform, and a dedication to relationships based on listening closely to our clients, we pride ourselves on being able to provide and execute complex strategies tailored to each situation,” says IDB Executive Vice President & Chief Lending Officer Lissa Baum.
5 Star Apparel is a privately held business offering more than 20 different clothing brands for men, women and children, selling some of the largest retailers in the U.S.
About IDB (www.idbny.com)
IDB Bank is a New York State-chartered commercial bank and a member of the FDIC. Headquartered in Manhattan, IDB operates branch offices in Brooklyn, NY, Staten Island, NY and Short Hills, NJ, and full-service branches in Southern Florida and Southern California. The bank offers a full-service lending platform for personal and commercial banking, trade services and deposit products to U.S.-based and international clients. Its areas of expertise include Middle Market, Asset Based and Commercial Real Estate Lending, Factoring, Trade Finance, Apparel and Consumer Products, Healthcare, Food and Beverage, High-Tech, Education and Non-Profit and U.S. and International Private Banking. IDB also operates a syndication desk that enables administration of complex transactions.
Contact Data
Karen Lichtenfeld
Israel Discount Bank
(212) 551-8797
klichtenfeld@idbny.com
