SAN FRANCISCO, Calif., July 19, 2016 (GLOBE NEWSWIRE) -- via PRWEB - Business Capital has secured a $25 Million revolving line of credit and $5 Million in mezzanine financing for CPI Luxury Group (D.B.A. China Pearl), a leading distributor and designer of pearls and pearl-based jewelry. The company purchases high-quality raw materials in bulk direct from farmers located worldwide - including China, Japan and other areas in the South Pacific - and imports to the U.S. where it sells finished private label jewelry to major department stores, chain stores, independent and online retailers. Outlets include Macy's, Fred Meyer, JCPenney, Kohl's, Helzberg Diamonds, Amazon and nearly 10,000 other vendors nationwide.
The Company was founded in 1983 by President/CEO Harold Jabarian, who opened a pearl manufacturing and exporting company in Hong Kong. Today, his enterprise is headquartered in Los Angeles and one of the largest and well-known in the industry, uniquely able to provide extremely large quantities of high-quality goods and related customized services at competitive prices to clients worldwide. CPI's specialization has resulted in an immense product catalogue featuring 12,000 distinct pearl designs and jewelry items which are continually updated.
Business Capital was able to clearly underwrite the complexity of the seasonality, consignment and inventory balance, to secure both the revolving and mezzanine debt necessary to provide CPI with increased liquidity.
"I have owned my business for over 33 years and have never had the pleasure of working with a more committed and diligent team than the professionals at Business Capital," said Harold Jabarian. "They exceeded our expectations, working nights and weekends, 24X7 successfully on our behalf, leveraging their knowledge, reputation and access to commercial capital. They delivered when others failed and saved us money along the way."
"We are thrilled to have assisted in providing financing to support the continued growth and expansion of CPI," said Chuck Doyle, Managing Director of Business Capital. "This deal exemplifies our unique ability to deliver highly customized solutions to our clients, which often includes creative multi-tranche financing packages. In this case, we refinanced China Pearl's ABL revolving credit facility simultaneously with a Mezzanine facility to provide the liquidity Harold specifically requested."
Business Capital is a leading commercial finance and debt restructuring firm specializing in securing customized debt based solutions for rapidly growing as well as challenged small and middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in situations where conventional capital sources are not an option.
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