Eclipse Provides $38MM Revolving Credit Facility to Daytona Apparel Group
Eclipse Business Capital, LLC announced today that is has provided a $38 million senior secured revolving credit facility with a $10.5 million term loan from Tiger Finance to Daytona Apparel Group. Daytona Apparel Group is a designer, manufacturer, and distributor of apparel, including socks, underwear, loungewear and sleepwear.
The revolving line of credit, which is collateralized by accounts receivable and inventory, will provide financing for ongoing working capital and a refinancing of an existing credit facility.
EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, provided the borrower the confidence that its business needs would be met.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and terms ranging in size from $10 – 125 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.
Since it was established, EBC has underwritten more than 70 transactions totaling over $1.7 billion in aggregate credit facilities. EBC has an experienced team of 47 professionals, located in Chicago, Boston, New York, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale and provides financing to middle-market borrowers in the U.S. and Canada.