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Mike’s Bikes secures ‘multi-million dollar’ credit line for growth plan

Mike’s Bikes secures ‘multi-million dollar’ credit line for growth plan

Bicycle Retailer  Bicycle Retailer, January 5, 2015

SAN FRANCISCO (BRAIN) — California retailer Mike’s Bikes has secured a “multi-million dollar” credit facility through Business Capital, a commercial finance and debt restructuring firm. According to a press release issued by Business Capital, the retailer plans to use the credit line to finance growth over the next three years.

Mike’s Bikes, based in Marin County, California, currently has 11 locations, with most clustered around the San Francisco Bay Area.

“It was a real pleasure to work with the team at BizCap,” Ken Martin, CEO of Mike’s Bikes, said in the release. “They took the time to understand our unique set of business needs and delivered customized financing to assist us with our short and long term growth capital needs.”

Business Capital, based in Connecticut, specializes in securing customized debt-based solutions for rapidly growing as well as challenged small and middle market companies nationwide.