CARLSBAD, Calif. — ZOIC Clothing announced today that it has closed on new financing from California Bank & Trust. Funding consists of a term loan that solidifies the capital base of the company and an accounts receivable factoring line that enhances the company’s seasonal borrowing ability. These facilities will allow the company to better serve its dealers by maintaining optimal inventory levels and offering attractive payment terms.
Remarked CEO Paul Wyandt, “The added financing allows us to leverage the success of our products in the marketplace and growing awareness of the ZOIC brand to build an organization that can better support our dealers and continue to deliver original, quality apparel for cyclists. Steve DeLong and Jonathan Schuster from California Bank & Trust understood this and have been terrific partners through the process.”
The new financing for ZOIC comes on the heels of record revenue for the first six months of 2013, hiring a national sales manager in April and relocation to a larger headquarters in Carlsbad, Calif. in June.
ZOIC is the style of cycling. For 19 years we have been fusing performance fabrics and technical features into trendsetting clothing for anyone who enjoys life on a bike. We produce a complete line of men’s, women’s and kids’ apparel for mountain biking, recreational riding, bicycle commuting and more. To see the complete ZOIC collection visit www.zoic.com. We encourage everyone to ride more and dress well.