GE Capital backs Loehmann’s
GE Capital has provided a $35 million loan to retail department store titan Loehmann”™s.
GE”™s corporate retail finance division in Norwalk served as sole lender for an asset-based credit facility to Loehmann”™s. GE said the loan will be used for working capital needs.
“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.”
Founded in 1921, Bronx-based Loehmann”™s offers discounted designer men”™s and women”™s fashion apparel and accessories.
“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.”