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


Avidbank Provides $6.4MM to America’s Thrift Stores

March 16, 2018, 08:00 AM
Filed Under: Apparel

Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided $6.4 million in credit facilities to America’s Thrift Stores (ATS).

Founded in 1984 and headquartered in Birmingham, Alabama, ATS is a for-profit company that supports ministries and charities by reselling donated clothing and household items. ATS currently has 17 stores in five states. The new funding will enable growth of ATS donations network with a target of 30% increase in donations to support the plan to open two to four new stores per year. ATS is a portfolio company of Alpine Investors.

“We are pleased to provide America’s Thrift Stores with the support they need for their next phase of growth,” said Jon Comeau, Senior Vice President, Relationship Manager, “Avidbank is thrilled to continue building our partnership with ATS’ exemplary management team and further strengthen our relationship with their equity sponsor, Alpine Investors.”

“Avidbank’s due diligence was thorough, grounded in good business judgment, and highly efficient,” said Dan Doore, Chief Financial Officer of America’s Thrift Stores. “The Avidbank team, without exception, was highly professional, competent and personable. From the beginning of the process, we believed they would make excellent banking partners and advisors. While we are early in our relationship with Avidbank, they have already proven to be excellent partners.”

Comments From Our Members

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