Online jewelry retailer Blue Nile Inc., Seattle, has closed a $15 million revolving line of credit with GE Capital, Stamford, Conn. The three-year deal will provide Blue Nile ‘with additional flexibility in funding its working capital needs in support of the company’s continued growth,’ the company said in a statement.
Diane Irvine, Blue Nile chief financial officer, says GE Capital’s Business Credit group was attracted to Blue Nile’s business model, which is based on consumer demand, a high average sales price for its products, low infrastructure and fulfillment costs, and fast inventory turns.
‘To receive this type of financing-which is usually reserved for established brick-and-mortar businesses-reflects the strength of our business model,’ Irvine says.
Blue Nile is located at www.bluenile.com.