Presidential Financial has closed a $750,000 revolving credit facility for Colonial Shoe Corporation, an importer of men’s and women’s formal footwear.

“We needed a financial partner to help relaunch this business, help rebuild the inventory, and expand the opportunity to grow the business in the future,” said Greg Sharp, president of Colonial Shoe. “Presidential was our choice because they brought more to the table and were so easy to work with in regards to our unique business model.”

Sharp recently purchased the company and wanted to find a financial partner that would help him grow the business. Since the time of the purchase, the company has added new customers, increased sales, and expanded its product line to include its own brand of men’s apparel. “We rebranded ourselves to include not only shoes, but apparel and accessories to market to the formalwear trade and beyond,” said Sharp. “Presidential was there to help us make that transition almost seamless and to help us grow this business in a very positive way.”

“We are so pleased to have Colonial Shoe as one of our clients,” said Tom Matthesen, CEO of Presidential. “We understand the apparel and importing business very well, and one of my favorite things about what we do is helping quality people like Greg to grow his business.”

Specializing in asset-based financing since 1981, Presidential Financial services commercial and healthcare clients nationwide.