FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


AloStar Business Credit Provides $5MM Facility to Distinctive Apparel

December 05, 2012, 08:15 AM

AloStar Business Credit has provided a $5 million senior secured revolving credit facility to Distinctive Apparel, an online and catalog retailer of affordable and trend-driven women’s apparel.

Headquartered in Randolph, MA, Distinctive Apparel is an online and catalog retailer of women’s apparel marketed under the Chadwicks of Boston and Metrostyle brands. The company sells a mix of apparel styles to a target market of women ages 40 to 60. Its brands rank fifth in the U.S. in terms of customer database size.

“With the rise of online shopping, Distinctive Apparel, Inc. is developing a niche in the women’s apparel industry,” said Andy McGhee, president of AloStar Business Credit. “We’re thrilled to provide the capital they need to grow these two brands and reach their business goals.”

“We are very pleased to be working with the team from AloStar Business Credit as we continue to grow our beloved brands. They took the time to understand our business model and have been a valuable partner to DAI from day one,” said Aldus H. Chapin II, President and CEO of Distinctive Apparel. “We look forward to a long and fruitful relationship with AloStar.”

Distinctive Apparel, Inc. is well positioned for future growth as it continues to transition traditional catalog customers to online shopping. According to Forrester Research, online shoppers in the U.S. will spend $327 billion in 2016, up 45% from $226 billion in 2012 and 62% from $202 billion in 2011.

AloStar Business Credit provides asset-based lending products nationwide to businesses ranging between $20 million and $300 million in revenue and with financing needs ranging between $5 million and $20 million. AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.