CIT Northbridge Credit Participates in $60MM Financing for Stock+Field

CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, provided $40 million of a $60 million senior secured credit facility for Stock+Field, a farm, home and outdoor retailer.

Stock+Field, formerly known as Big R Stores, operates more than 25 large retail outlets in Illinois, Ohio, Indiana, Wisconsin and Michigan featuring a wide range of ranch and farm supplies, clothing, sporting goods, tools, automotive products and more. The credit facility, which was led by Massachusetts-based Second Avenue Capital Partners, will be used for working capital and general corporate purposes.

“We are excited to complete this new credit facility to support our business operations,” said Matt Whebbe, chairman and CEO of Stock+Field. “CIT Northbridge Credit and Second Avenue listened closely to our needs and came up with the right financing package to help us achieve our strategic initiatives.”

“We were pleased to leverage our industry expertise and to collaborate with Second Avenue in developing the financing that will support Stock+Field’s continued operations,” said Neal Legan, who leads CIT Northbridge Credit.

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