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NewStar Business Credit Provides Secured Credit Facility to Summit Golf

January 29, 2014, 07:03 AM
Filed Under: Apparel

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc. announced that it has provided a secured revolving credit facility to Summit Golf Brands, Inc. (“Summit”). 

Headquartered in Shelton, CT, Summit designs, produces and sells golf sportswear apparel through country clubs and retailers under the brands Fairway & Greene, EP Pro, and Zero Restriction.  The proceeds of the financing will be used to refinance existing debt and provide ongoing working capital for the company.

“We were pleased to have the opportunity to work with Summit to meet their unique financing objectives and to further expand our presence in the Northeast,” said Milton Iskra, National Marketing Manager.  NewStar’s Nina Fairchild, an SVP located in the company’s Philadelphia office, originated the transaction.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $25 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as, to support internal growth strategies

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