Blue Ridge Mountain Sports Ltd. (BRMS) has secured financing for inventory to stock its seven stores located in Charlottesville, Virginia Beach and Blacksburg, Virginia; two stores in Knoxville, Tennessee; and stores in Madison and Princeton, New Jersey.
This new inventory capital is in addition to the significant equity capital invested in June 2014 for the purchase and restructuring of the company by former management led by Stephen Nauss. Nauss's involvement in the business dates back to 1973, as an owner and operator. His leadership is responsible for the company's long history of success in the outdoors retail industry.
BRMS management secured inventory financing through Strategic Funding Source, Inc. (SFS), a leading New York City-based financial institution to retailers, restaurants, hotels, medical professionals, manufacturers, wholesalers and automotive dealers and suppliers. The SFS ongoing financial relationship demonstrates SFS's understanding of the underlining strength of the BRMS brand in the market.
“We review thousands of retail operations and BRMS stood out as a durable 40-year brand, loved by its customers,” said James Catanzaro, SFS Vice President. “Having previous management back at the helm of the company excited us and we are seeing immediate results and success in our loan portfolio with BRMS. We hope to be involved with BRMS for the next 40 years of its history.”
This new financing for inventory will ensure that BRMS has proper stock for the fall and holiday season. Stephen Nauss extols SFS as a great partner for the company.
“SFS's performance was incredibly responsive and professional on every level,” said Nauss. “We look forward to partnering with them to smooth and bolster the seasonality effects of the retail market.”
BRMS was founded in 1971 in Charlottesville, VA as the result of a Darden School project at the University of Virginia and has stores throughout the Eastern U.S. Over the past 40 years, BRMS has grown to consistently occupy a slot in SGB Magazine's annual TOP 25 Outdoor Specialty Retailers in the nation and is consistently recognized as one of the nation's TOP 100 Sporting Goods Retailers. Today, BRMS provides its customers with the best outdoor gear from top brands backed by the best return policy – Happiness Guaranteed 24-7 365 days a year. www.brms.com
About Strategic Funding Source, Inc. Founded in 2006, Strategic Funding Source is a market leader in offering financing options to small and midsize businesses. Recognized as one the most reliable and respected names in the industry, Strategic Funding Source is known for flexible and tailored financing options, its comprehensive technology platform and exceptional customer service. Headquartered in New York City with a network of affiliated offices and sales representatives, the company provides capital throughout the U.S. and Australia. Visit: www.sfscapital.com/
