Tower Paddle Boards Lands a $500,000 Credit Line from HSBC
San Diego, CA September, 2014 – After a long time coming, four years to be exact, Tower is excited to announce they have been given a $500,000 credit line from HSBC. Tower has been in business for four years now, just crossed $10 million in lifetime sales in January of this year, and have been seeking out a bank to approve a credit line for the rapidly growing business. HSBC recognized the massive growth Tower has been experiencing and decided it was time to offer them their trust, along with a credit line.
"It wasn't until we were on pace to do a $5 million revenue year, that they (HSBC) and other bankers, many that had previously turned us down, approached us. It was after we were named the fastest growing company in San Diego that they started to take notice," says Stephan Aarstol, CEO/Founder of Tower Paddle Boards, "Getting this was a massive win."
Aside from receiving the title of San Diego's fastest growing company, Tower has been listed as one of Inc. 500's "Most Impressive Products," and sits at #239 on their 2014 list, switched over to a five hour work day, rolled out five percent profit sharing for their employees and landed a deal with Amazon for their new platform, Amazon Exclusive.
The Tower brand is well known within the US, and at an exponentially growing pace worldwide, as the purveyor of the beach lifestyle. Tower creates products and services that engage and inspire the human spirit. They disrupt markets with their value proposition of selling high-quality at low cost by leveraging their online marketing expertise and their direct consumer online business model.