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New client - Gibraltar provides asset based loan to support growth plans for Bills Khakis

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Information about New client - Gibraltar provides asset based loan to support growth plans...
Finance

Published on March 3, 2014

Author: chrislehnes

Source: slideshare.net

Description

Gibraltar Business Capital, a leading commercial finance company that provides small- to medium-sized businesses with flexible capital alternatives, announced today that it has closed on a $3.5 million asset based loan to Bills Khakis, the leading designer and manufacturer of premium men’s sportswear and accessories, based in Reading, PA. The company intends to use this new credit facility to support working capital needs, as well as to fund strategic growth initiatives.
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3/3/2014 New Client Gibraltar provides asset based loan to support growth plans for Bills Khakis Gibraltar Business Capital, a leading commercial finance company that provides small- to mediumsized businesses with flexible capital alternatives, announced today that it has closed on a $3.5 million asset based loan to Bills Khakis, the leading designer and manufacturer of premium men’s sportswear and accessories, based in Reading, PA. The company intends to use this new credit facility to support working capital needs, as well as to fund strategic growth initiatives. “Gibraltar Business Capital worked closely with us to structure a deal that meets our specific need for working capital to support our continued growth,” said John Dever, Jr., President of Bills Khakis. “We appreciate their ability to understand our business and to design a line of credit that addresses specific challenges associated with a premium clothing brand, such as ours. We look forward to a mutually beneficial and long lasting relationship.” “We are pleased to provide Bills Khakis, a leading American menswear brand, the necessary liquidity to help move their growth strategy forward,” said Darren Latimer, CEO of Gibraltar Business Capital. “By collaborating closely with their management team, we have structured a tailored lending solution that takes into account today’s economic realities facing the retail sector.” Gibraltar Business Capital offers asset-based lending solutions as alternatives to commercial bank loans. Gibraltar executed the line of credit in an expedited manner and without the typical restrictions often required by traditional lenders. About Gibraltar Business Capital Headquartered in Chicago, Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan. With fast, flexible asset-based lending and factoring solutions, Gibraltar delivers lines of credit and specialized funding that allow enterprise to meet their business objectives. Building on its 60-year history, Gibraltar Business Capital is a multifaceted company strategically positioned with the portfolio, infrastructure, personnel and resources to support its clients nationwide. For more information visit www.gibraltarbc.com. About Bills Khakis A leading designer of premium, branded men’s sportswear based in Reading, PA, the company primarily sells its products wholesale to over 600 specialty men’s retail stores throughout the United http://secure.campaigner.com/Campaigner/Public/t.show?6dxtb--3giue-o2g4ed5&_v=2 1/2

3/3/2014 New Client States, as well as retail direct-to-consumer through catalog and internet marketing. Bill Thomas founded Bills Khakis in 1990 to design and market a premium line of men’s pants. Since its founding, the company has focused on the consumer seeking high quality men’s sportswear and the line now also includes sweaters, woven shirts, outerwear and belts. The Bills Khakis brand is highly recognized among affluent men for its cut, quality, consistency and rare “Made in the USA” status. Learn more about factoring and asset based lending. Or, contact me: Chris Lehnes SVP, Loan Originations clehnes@gibraltarbc.com 203-304-9527 http://secure.campaigner.com/Campaigner/Public/t.show?6dxtb--3giue-o2g4ed5&_v=2 2/2

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