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IDB Bank Provides New $125MM Credit Facility to 5 Star Apparel

February 09, 2022, 07:33 AM
Filed Under: Apparel

5 Star Apparel announced a new $125 million credit facility to support its existing operations and continued expansion. IDB Bank was the lead agent and one of three banks financing the credit facility.

The home of brands includes but is not limited to True Religion, Lee Jeans, IZOD and Eddie Bauer. 5 Star Apparel has worked with IDB Bank since its inception in 2003. The Oved, Betesh and Pardo families are owners of 5 Star Apparel. Additionally, the Oved Brothers have been customers of IDB Bank for over 40 years.

“In the apparel business, IDB Bank is the only bank we’ve ever used,” says Isaac Oved. “For over forty years, they have been responsive partners, listening to our needs as the business changed, and our needs evolved.”

“Our longstanding relationship with 5 Star Apparel has given us a front-row seat for its spectacular growth. Even in challenging times, we’ve been there with cash flow and financing solutions,” says IDB First Vice President Barry Solomon. “This credit facility will support 5 Star Apparel as it continues to expand and evolve.”

“With a sophisticated lending platform, and a dedication to relationships based on listening closely to our clients, we pride ourselves on being able to provide and execute complex strategies tailored to each situation,” says IDB Executive Vice President & Chief Lending Officer Lissa Baum.

5 Star Apparel is a privately held business offering more than 20 different clothing brands for men, women and children, selling some of the largest retailers in the U.S.

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