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MB Business Capital Canada Announces $9MM Credit Facility for R.M.P. Athletic Locker

August 18, 2017, 07:00 AM
Filed Under: Apparel

MB Business Capital Canada Inc., an indirect subsidiary of MB Financial Bank, NA, announced it recently provided a new $9,000,000 Canadian senior credit and foreign exchange facility to R.M.P. Athletic Locker Limited. RMP Athletic is based in Mississauga, Ontario and is a licensed distributor of sports apparel, footwear, accessories and equipment. The company is the exclusive distributor of Umbro, Teva, Hoka One One and other brands to all retailers across Canada. In addition, they operate retail locations and conduct regional closeout “pop-up” sales. MB’s credit facility will be used to support the company’s growth initiatives, including the recent announcement that RMP Athletic will be the exclusive Canadian distributor of Sanuk footwear starting January 1, 2018.

Dan Flaro, SVP of MB Business Capital Canada in Toronto, Canada says, “MB Business Capital Canada is pleased to be supporting such a high caliber management team and shareholder group. With the benefit of a thorough understanding of their business objectives, we delivered a tailored solution to accommodate their needs and look forward to evolving with them as they move forward.”

It all started in 1977 when Mike Dyon (the "M" in R.M.P. and former Canadian marathon champion) purchased a pair of running shoes in Florida and liked them so much he and his brother Paul, borrowed their mother's station wagon, headed for the U.S. and bought $750 worth of running shoes to sell to other marathon racers in Canada. Over the 40 years of the company, it has been the distributors of over 30 different athletic brands in the Canadian market and has been one of the leading athletic distributors in Canada.

“We are extremely pleased that MB Business Capital Canada was able to provide a complete lending solution to RMP Athletic. This new facility will support their growth initiatives and assist them with their seasonal working capital needs,” says Michael Sharkey, President of MB Business Capital.

Rob Holmes, COO of RMP Athletic says, “The team at MB has invested significant time to understand our business model and have been willing to work with a successful, small business when many other traditional lenders decided to pass on our size of business. The team is very experienced and has been a pleasure to work with in all respects throughout the entire process of funding. We would be pleased to recommend them to other companies looking for a responsive banking relationship with professionals interested in helping them achieve their goals.”

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