CBC Provides Leading Flooring Company with $13 Million Asset-Based Facility
NEW YORK and CINCINNATI, OH – February 25, 2016 – After a competitive bid process, Robbins Inc., a premier flooring company, has selected Capital Business Credit (CBC) to provide both an asset-based revolving line of credit as well as a term loan, totaling approximately $13 million.
Robbins Inc. is comprised of Robbin’ Sports Surfaces, the leading supplier of high performance sports flooring systems to the NBA, WNBA, NCAA, arena, education, religious and fitness markets, and Stoehr Flooring, a manufacturer of hardwood flooring for the commercial and residential sectors. The family-owned business with customers on six continents chose CBC because it is able to execute under an incredibly tight timeline, has experience in the flooring sector and a team of experienced financiers that go beyond just traditional account management functions and provide guidance and expertise in the management of the financial facility.
“As we looked for financial solutions beyond the traditional banking sector, it was important that we found a partner that understood our business model and would be able to quickly underwrite and provide us with the working and growth capital we needed. We found all of this in Capital Business Credit,” said James H. Stoehr III, President and CEO of Robbins Inc.
“Robbins is a great example of how Capital Business Credit can quickly provide financing to companies,” said Malcom Ferguson, regional manager, CBC. “Given our array of asset-based, trade finance and factoring products, we are able to determine what type of facility will best support a company’s objective and then create a program support their needs.”
About Capital Business Credit
Established in 1988, Capital Business Credit LLC is a global financial products and services company. The Company’s solutions include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai, Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.
Capital Business Credit is now known as White Oak Commercial Finance.