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CIT Northbridge and Tiger Finance Arrange Up to $47MM Financing for Leading E-Commerce Seller of Branded Products

March 30, 2022, 07:58 AM
Filed Under: e-Commerce

CIT Northbridge Credit, as advised by CIT Asset Management, and Tiger Finance arranged up to $47 million in financing for a leading e-commerce seller of branded consumer products.

The financing consists of a $30 million revolving credit facility provided by CIT Northbridge, a $5 million term loan provided by Tiger Finance, and an accordion for up to an additional $12 million. The loans will be used to support the client’s inventory needs and provide capital for future growth opportunities.

“Our client has an outstanding track record for sourcing and selling branded products that meet consumer demand,” said Neal Legan, who leads CIT Northbridge. “We were pleased to arrange this asset-based debt facility to support the growth and development of their business.”

“We value the opportunity to partner with CIT and provide a holistic solution to meet our clients rapidly growing financing needs. We were impressed by the client’s performance and its growth and are pleased to join in this financing to help meet the company’s business objectives,” said Bob DeAngelis, group head of Tiger Finance.

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