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


GA Capital Provides $15 Million Term Loan for Hancock Fabrics

December 07, 2012, 07:26 AM
Filed Under: Retail

GA Capital, a division of Great American Group that provides senior and junior secured loan facilities to help middle market businesses meet their financing needs, has closed on a $15 million term loan facility for Hancock Fabrics. GA Capital will act as the administrative agent for the term loan.

"We've been impressed with the financial expertise shown by our new partner, GA Capital, throughout this process," said Hancock Fabrics executive vice president and chief financial officer Robert Driskell. "With their assistance, along with other recent financing efforts, we've been able to enhance our cash and liquidity position and now have more flexibility to execute our operational improvement plans."

The loan for Hancock Fabrics was completed under the leadership of Stuart Armstrong, who was named president of GA Capital in May. Previously, Armstrong was one of the founders and served as executive vice president of Tygris Commercial Finance and as president of Tygris Corporate Finance.

"As an integral component of a larger refinancing effort by Hancock Fabrics, we are excited to provide the company additional working capital so it may continue to execute a successful business strategy," Armstrong said.

GA Capital Managing Director Robert Louzan and assistant vice president Krista Mello were part of the team that put the financing facility in place.

Hancock Fabrics is a specialty retailer of clothing/home fabrics and sewing accessories that operates 262 retail stores in 37 states along with an internet store at

Comments From Our Members

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