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Rosenthal Closes $2MM ABL Deal With GAME Sportswear

July 08, 2019, 09:00 AM
Filed Under: Consumer Products

Rosenthal & Rosenthal, Inc., a leading independent factoring, asset based lending and purchase order financing firm in the United States, announced the completion of a recent $2 million asset based lending deal, with GAME Sportswear, Ltd., a New York-based manufacturer and importer of apparel for the sportswear and workwear markets.

In addition to importing a range of products, including high-visibility reflective safety clothing for first responders, such as vests, t-shirts and hoodies, GAME is also a domestic manufacturer of “Proudly Made in the USA” custom firefighter work shirts and wool/leather Varsity jackets. All of GAME’s domestic products are acknowledged in the marketplace as industry leaders in materials and construction and are competitively priced. The company’s extensive manufacturing operation includes spinning yarn, weaving and a cut-and-sew department, along with an expanded design and embellishment division.

After receiving multiple new orders from new and existing retail customers, the company required inventory financing to fulfill the orders on time. GAME’s owner quickly learned that its existing factor was unwilling to provide adequate inventory financing, and turned to the company’s professional financial advisors for guidance. Already familiar with GAME, Rosenthal was quickly able to assess the company needs, consequently agreeing to provide $2 million in financing to fund their working capital needs substantially more than GAME’s existing lender had offered. In addition, GAME was impressed with Rosenthal’s ability to also provide purchase order financing as an incremental liquidity tool to assist with their growth. The purchase order financing facility is a seamless supply chain finance solution that works in tandem with their asset-based lending facility.

“Throughout our more than 80 years in business, Rosenthal has helped entrepreneurs take advantage of opportunities to expand their businesses,” said Robert Schnitzer, Senior Vice President at Rosenthal. “This deal is a great example of how timing is everything. Rosenthal’s willingness to look beyond just the balance sheet, and assess the entire company, its evolution of progress and its people is why we are able to be more creative and more flexible than other lenders.”

As a 40+ year-old family run business, GAME is now led by the founder’s daughter, Andrea Cancellieri, a woman entrepreneur who is leading the company in product development, manufacturing, embellishment and process innovations.

“Through this deal, Rosenthal has provided us with a clear path forward so that we can continue to provide the quality products that our customers have come to know and love, as well as expand our line in both breadth and depth,” said Cancellieri. “We are grateful to call Rosenthal a partner and fortunate to have such an experienced and supportive team by our side.”

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