Leading online retailer Spiraledge secures $8 million loan from RBC
Among the Spiraledge businesses that will benefit from the $8 million loan from RBC is SwimOutlet.com, the largest online swimwear retailer. | Photo courtesy of Spiraledge
Christian Chensvold, contributing writer | Thursday, August 4, 2022
Republic Business Credit has provided another business with the funds it needs not only to succeed, but also to grow.
spiraledge is a leading internet retailer and healthy lifestyle company headquartered in Campbell, Calif., and recently secured an $8 million loan to leverage its internet retail and commerce strategy electronic. RBC provided a scalable, flexible and growth-oriented facility to maximize availability on inventory, merchant accounts and direct-to-consumer revenue.
Spiraledge’s activities include SwimOutlet.comthe largest online swimwear retailer; EverydayYoga.comthe web’s fastest growing yoga retailer; Swim.com, a digital training and swimming training platform; and Tend.comthe first software platform of its kind with tools to manage a diversified and sustainable farming operation.
“Getting out of the pandemic and preparing for summer Olympic Games at Toyko, we sought a partner to support our seasonal inventory purchases,” Spiraledge CFO John Gilchrist said in a statement. “Republic understands our business and is committed to our vision of providing the perfect online shopping experience for our customers.”
Republic provided an $8 million direct-to-consumer inventory loan facility that provides extensive availability on Spiraledge’s inventory, customer accounts, merchant accounts, and e-commerce related products. Republic’s financing refinanced Spiraledge’s existing bank facility while providing significant additional liquidity for future growth.
“Spiraledge is a great addition to a growing portfolio of brands,” said Matthew Begley, COO of Republic. “The company is a well-run, mission-driven, direct-to-consumer Internet retailer that responds to its customers.”
Republic Business Credit is a national provider of working capital facilities for private equity firms and entrepreneur-owned businesses. Republic offers asset-based lending, ledger lines of credit, traditional factoring, direct-to-consumer lending, and rapid AR financing. It partners with its clients to provide up to $12 million in senior credit facilities to rapidly growing companies, startups and companies in recoverable difficulty.