An outdoor apparel manufacturer approached Republic Business Credit for an asset-based loan when its existing senior lender could no longer support the company’s accelerated growth. Republic was able to provide a $15 million asset-based loan and partnered with Change Capital to secure an additional $2 million junior debt facility. The combined financing enabled the company to boost inventory ahead of its peak season, resulting in the company successfully meeting its 2024 growth targets while already exceeding its spring 2025 projections by over 25%.

The Southeast-based company manufactures innovative apparel, accessories and athleisure basics for fishing, hunting, boating and other outdoor activities. The company credits its omnichannel approach, including sales through big box retailers, club stores and the company’s own growing e-commerce channels, as key components of its consistent, year-over-year growth.

“It’s exciting when we can partner with dynamic leadership teams that are facing the working capital challenges of growth, and its rewarding to see their success once they have the right lender in their corner,” said Robert Meyers, President of Republic. “We pride ourselves in fostering true collaboration with our clients and partners to achieve the best possible outcome for everyone involved.”

Raffi Azadian, CEO of Change Capital added, “We like partnering with founders that have a plan, a successful track record and a trusted senior debt lender that we have known for years. Together with Republic, we’ve provided an incredible solution to accelerate the continued success of the company, and we look forward to telling its growth story in the future.”

“Since the deal has funded, the company has paid its key suppliers and seen significant growth in sales,” said Eric Dorner, VP in Republic’s Chicago office. “It has always been a highly profitable business and we are seeing that trend continue. The right partnership paves the way for success to follow.”