Mike’s Bikes, the largest independent bicycle retailer on the West Coast, has structured and secured a multi-million dollar credit facility with Business Capital to grow its Marin County, CA business.
The company sells Specialized and other top quality brands of bicycles, components, apparel and consumables. Larger than the typical neighborhood cycle store, its connection with the community gives it a “local bike shop” reputation.
“Obtaining this financing was especially rewarding,” said Chuck Doyle, managing director of business capital. “My family and friends are long time, loyal customers of Mike’s Bikes because of their top quality products and first class customer service that sets them apart as the national leader in their sector.”
With 11 locations spread throughout Northern California, the company plans to continue expanding over the next three years, which requires significant working capital. The credit facility delivered by Business Capital will provide the additional operating capital and benefits needed to achieve this strategic growth plan.
“It was a real pleasure to work with the team at BizCap,” said Ken Martin, CEO of Mike’s Bikes. “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 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.