NewswireToday - /newswire/ -
Norwalk, CT, United States, 2009/12/21 - GE Capital, Corporate Retail Finance today announced it served as sole lender for a $35 million asset-based credit facility to Loehmann’s, Inc., an off-price retailer of designer fashions. The loan will be used for working capital needs. NYSE: GE
Founded in 1921, Bronx, NY-based Loehmann’s offers discounted designer men’s and women’s fashion apparel and accessories. The company features top designer brand names such as Calvin Klein, Kenneth Cole, Dolce & Gabbana, and Michael Kors at more than 60 stores across the U.S.
“GE’s ability to quickly provide us with the full amount of financing we were seeking was key to helping us meet our business goals,” said Jerry Politzer, CEO of Loehmann’s. “Their in-depth retail industry knowledge and loan structuring expertise helped provide us with both capital and financial flexibility."
“Access to capital is critical in today’s retail environment and this requires finding the right lender,” said Jim Hogan, managing director of GE Capital, Corporate Retail Finance. “With a thorough understanding of client needs and a passion for finding the right solution, we strive to provide retailers with smarter liquidity.”
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Visit gelending.com/clnews.
About GE Capital
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. For more information, visit the website or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.
Jeff Wilson, GE Capital, Corporate Finance
P: +1 203 749 6340
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