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Gibraltar Business Capital Provides $3.5MM ABL to Bills Khakis

March 04, 2014, 07:13 AM
Filed Under: Apparel

Gibraltar Business Capital announced that it has closed on a $3.5 million asset-based loan to Bills Khakis, the leading designer and manufacturer of premium men’s sportswear and accessories, based in Reading, PA. The company intends to use this new credit facility to support working capital needs, as well as to fund strategic growth initiatives.

“Gibraltar Business Capital worked closely with us to structure a deal that meets our specific need for working capital to support our continued growth,” said John Dever, Jr., President of Bills Khakis. “We appreciate their ability to understand our business and to design a line of credit that addresses specific challenges associated with a premium  clothing brand, such as ours. We look forward to a mutually beneficial and long lasting relationship.”

“We are pleased to provide Bills Khakis, a leading American menswear brand, the necessary liquidity to help move their growth strategy forward,” said Darren Latimer, CEO of Gibraltar Business Capital. “By collaborating closely with their management team, we have structured a tailored lending solution that takes into account today’s economic realities facing the retail sector.”

Gibraltar Business Capital offers asset-based lending solutions as alternatives to commercial bank loans. Gibraltar executed the line of credit in an expedited manner and without the typical restrictions often required by traditional lenders. 

A leading designer of premium, branded men’s sportswear based in Reading, PA, Bills Khakis primarily sells its products wholesale to over 600 specialty men’s retail stores throughout the United States, as well as retail direct-to-consumer through catalog and internet marketing.

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