$1,000,000 Inventory Financing
For Fashion Retailer to Stay Ahead of Competition
Founded 35 years ago in Montreal, the business currently operates exclusive stores throughout Quebec, Ontario and Alberta. The Quebec-based retailer and wholesaler, which sells quality apparel targeted to career women, has a wide variety clothes designed in-house by international award-winning fashion designer, Sandra Angelozzi. Most of the pieces are currently made in Canada with fabrics coming from both Asia and Europe.
The Canadian fashion retail sector continues to be very competitive, as increasing acceptance of online shopping is affecting brick-and-mortar stores. Despite this uncertainty in the marketplace, some fashion retailers, like this company, are in growth mode, while others are simply stagnant or being forced to close shop. It comes as no surprise that banks and other lenders are less inclined to provide financing backed by retail inventory in these circumstances. The company decided that asset-based lending would be the best solution to carry forth its operations.
We stepped in with a creative and flexible financing arrangement. Our understanding of the dynamics of the retail marketplace helped us grant an inventory facility to provide working capital. This facility will allow the company to continue to offer modern, wearable, durable and feminine clothing for Canadian women for years to come.