Working capital for aggressive growth
Well-known industry veterans started a men’s casual wear company in 2013. Demand for the high-quality clothing they designed, imported, and distributed quickly grew, resulting in a working capital challenge for the company.
The company’s founders had an established relationship with Wells Fargo and reached out for help. The Wells Fargo Capital Finance Commercial Services Group team that is focused on consumer products worked with the company to fully understand its business plans and goals. We were committed to delivering a solution that would meet their immediate needs but also work for their long-term vision.
We provided a customized $5 million accounts receivable (factoring) facility that allows the company to secure new customers and fulfill order commitments as the brand grows in popularity. The factoring facility is also designed to grow with the company as it matures.