Huntington Beach, CA A women’s apparel company that started in 2008 was experiencing rapid growth due to increased brand awareness and marketing. The company is in a niche market within the women’s apparel industry. When the company first started in 2008, they were purely an eCommerce company. The company found that they could compete in a niche market and grow much more rapidly if they were not competing in the main stream women’s categories. Because they were largely an eCommerce, direct to consumer company, traditional asset based loans were not available to them. Traditional asset based lending companies loan against accounts receivable and inventory. These two assets on a balance sheet accompany sales to retailers, wholesalers and distributors, not sales directly to the consumer.
The company was profitable, but not to a level that banks like to see. After speaking with a number of banks with no positive results, they decided to engage Huntington Coast Capital. While asset based loans to eCommerce focused companies are not easy to come by, Huntington Coast Capital has a reliable stable of such lenders eager to be involved in the space.
The short story is, we were able to secure them an asset based loan and close in less than 3 weeks from our initial consultation. Huntington Coast Capital secured a $500,000 asset based loan against the general assets of the company. We succeeded where others failed. This asset based loan will allow the company to hit their sales numbers by giving them the capital they need to fulfill the ever-increasing orders.
Could your business use an asset based loan? Give us a call 714-719-8966.
To your success!
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.