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NewStar Business Credit Provides $9MM Credit Facility to Phoenix Footwear

May 14, 2015, 07:43 AM
Filed Under: Apparel

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $9 million revolving credit facility to Phoenix Footwear Group, Inc. Headquartered in Carlsbad, California, Phoenix specializes in quality women’s footwear with a design focus on comfort and fitting features. The company markets its footwear under several brands, which are sold through independent retail stores, mail order catalogues and internet retailers.  The credit facility will be used to support the company’s working capital needs.

“We are pleased to be working with Phoenix Footwear to provide flexible working capital financing.  With a history of operation since 1882, the company is well established in its markets and managed by a great team with well-defined growth plans,” stated NewStar EVP and National Marketing Manager, Milton Iskra.

The transaction was originated by Lisa Adams, a Senior Vice President located in NewStar’s San Francisco office.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $30 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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