Business Capital Structures and Secures $2MM Financing for Sports Basement
The Company is a dominant sporting goods retailer in the San Francisco Bay Area and has been successful in offering its customers top brands at bargain prices and is known for creating an inviting, community atmosphere within each of its store locations.
The combination of several snowless winters and the acquisition of a new building put a strain on working capital. The Company implemented a turnaround plan for a return to significant profitability within a year. In the interim, a short term credit facility was needed, but challenging to secure from conventional capital sources.
Business Capital was introduced by the client’s banker and was able to quickly deliver a bridge loan which provided the working capital needed to successfully move ahead with strategic plans for profitability. The Company was able to remain a prominent fixture in the San Francisco Bay Area community.
“Business Capital is a national firm with clients all over the country so it’s always especially rewarding when we are able to assist local businesses. In this case, it was also personal as all of our employees, families and friends are customers of this client. ” – Chuck Dole, Managing Director, Business Capital