Cambridge Savings Bank Extends $10.5 Million Credit Facility to Fuel Stauer’s Growth

Cambridge Savings Bank (CSB), a customer-centric mutual bank with nearly $7 billion in assets, has announced that its Asset-Based Lending (ABL) team has extended a $10.5 million credit facility to Stauer, a direct marketing retailer renowned for its affordable jewelry, watches, accessories, and collectibles backed by a satisfaction guarantee. The financing provided by CSB will enable Stauer to settle its outstanding revolver and term loan balance, facilitate ongoing working capital requirements, and bolster daily operations.

Founded in 2003 by Michael Bisceglia, Stauer is dedicated to disrupting the jewelry industry by offering premium-quality items at more accessible prices compared to luxury brands. The retailer showcases a diverse array of mainstream and high-end products through various channels including catalogs, magazine ads, e-commerce, direct mail, and its call center. Headquartered in Burnsville, Minnesota, Stauer maintains a connection to Needham, Massachusetts, through its sponsor, Stanfield Capital.

“Stauer is committed to delivering unmatched quality, value, and service to our valued customers,” stated Bisceglia. “In our quest for lending solutions, Cambridge Savings Bank emerged as the ideal partner due to their customer-centric ethos. CSB not only recognizes our potential for growth but also comprehends the unique intricacies of our business. They have been instrumental in helping us identify solutions to meet our present and future objectives.”

Seeking a banking partner with a deep understanding of its consumer product inventory and the ability to craft tailored solutions for future growth, Stauer found CSB to be the perfect fit. This collaboration marks the initiation of a promising relationship between Stauer and CSB, with the bank providing invaluable assistance in structuring a flexible lending package conducive to Stauer’s expansion plans.

“At Cambridge Savings Bank, we prioritize building authentic relationships with each client we serve,” remarked Yvonne Kizner, Senior Vice President of Asset-Based Lending at CSB. “Stauer shares our customer-centric approach, making it effortless to establish a genuine connection. We are dedicated to supporting Stauer’s ongoing success and are committed to providing assistance every step of the way.”

CSB’s commercial division is dedicated to catering to the needs of local communities and businesses, offering a comprehensive suite of Corporate Banking and Lending, Commercial Real Estate Lending, Asset-Based Lending, Treasury Management, and Trade Services solutions. For further details on CSB’s customized solutions for commercial entities, please contact Yvonne Kizner at [email protected].

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