Republic Business Credit and Change Capital Provide $17 Million in Financing to Southeast-Based Outdoor Apparel Manufacturer
Republic & Change Capital partnered to provide more than $5 million in additional availability compared to the incumbent lender, enabling over 40% projected growth in 2025.
CHICAGO – 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 $15,000,000 asset-based loan and partnered with Change Capital to secure an additional $2,000,000 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,” stated 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.”
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About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank.
About Change Capital
Change Capital provides innovative and flexible financing solutions to companies with high-growth potential, differentiated market positions, and strong management teams. Specializing in subordinated, senior, and bridge financing of up to $5 million, Change is known for their fast turnaround times and ability to structure deals with flexibility and creativity, while keeping senior lender priorities and relationships top-of-mind. With a focus on empowering businesses to scale and thrive, Change Capital is more than a lender – they are a committed partner, driving growth and fostering success.