GemCap Provides $7MM, Working Capital Line, to Solstice Sunglasses.
Funds will Support Seasonal Needs and Opportunities.
New York, New York, December 14th, 2022 – GemCap Solutions (“GemCap”), a leading non-bank capital lender providing working capital solutions, today announced that it had provided a $7MM line of credit to Solstice Sunglasses (“Solstice”), the second largest sunglass retailer in the United States.
Michael Rosenberg, CEO of Solstice, said, “We are grateful to be working with the GemCap team to address Solstice’s financing needs. Having an experienced and supportive partner for working capital provides a great benefit to our team, critical suppliers, and other stakeholders.”
“We are excited to be a part of the Solstice Sunglasses success story,” said David Ellis, Co-President of GemCap. “No two borrowers are alike but working with the Solstice team, we were able to provide a financial solution to meet their needs. We knew that Solstice would be a great company to partner with, given its reputation and longevity in the marketplace. It’s really a win-win for both parties.”
The transaction was coordinated by Jacen Dinoff of KCP Advisory Group, who stated “GemCap is an ideal solution provider with a team that carries experience as operators and lenders. They really understand their borrowers.”
More information is available by contacting KCP Advisory Group at:
Solstice is a luxury sunglasses boutique carrying an assortment of designer, contemporary, and sport sunglasses for women, men, and children with locations in outlet centers, malls, and online at www.solsticesunglasses.com.
GemCap Solutions provides loans in the range of $1-$10 million to businesses within the United States & Canada, as well as in-transit inventories to the United States. As a non-bank lender, they have more flexibility and freedom and aren’t handcuffed by regulations, stuffed with red tape, or constrained by a “no” culture. Gemcap prides itself on unique, flexible lending products tailored to its clients.
About KCP Advisory Group
KCP renders services spanning a range of advisory roles, from consulting to interim leadership. By recognizing the uniqueness of each engagement, KCP ensures the needs of the situation are met and minimizes the cost of valuable solutions by working in small, specialized expert teams.