Lulus Secures $20M Credit Facility with White Oak, Reduces Debt and Extends Maturity to 2028

Lulus Fashion Lounge Holdings has secured a $20 million credit facility with White Oak Commercial Finance, extending maturity to August 14, 2028. The agreement includes a $5 million uncommitted accordion and a $1 million sublimit for letters of credit. Lulus will repay $6 million outstanding under its previous credit arrangement with Bank of America, resulting in $10 million of outstanding borrowings under the new facility. This new partnership is expected to enhance liquidity and financial flexibility, supporting Lulus' sustainable growth objectives.

Lulus Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) has entered into a significant financial agreement with White Oak Commercial Finance, LLC, securing a $20 million credit facility. The three-year agreement, effective until August 14, 2028, includes an asset-based revolving credit line, a $5 million uncommitted accordion, and a $1 million sublimit for letters of credit [1].

The company will use part of the initial funding to repay approximately $6 million outstanding under its previous credit agreement with Bank of America. Post-repayment, Lulus will have $10 million in outstanding borrowings under the new facility. Crystal Landsem, CEO and Interim CFO of Lulus, expressed satisfaction with the partnership, stating that it strengthens the company's liquidity position and provides financial flexibility to pursue strategic priorities [1].

This latest move follows Lulus' recent earnings report for the second quarter of 2025, which showed a net revenue of $81.5 million, a 11% decline from the previous year. Despite the revenue dip and earnings miss, the company's stock rose by 2.2%, indicating positive investor sentiment [2].

Lulus, founded in 1996, is an attainable luxury fashion brand for women, offering modern designs at accessible prices. The company's e-commerce platform serves millions of customers worldwide, with a focus on delivering fresh styles and exceptional customer service [3].

References:
[1] https://za.investing.com/news/company-news/lulus-secures-20-million-credit-facility-with-white-oak-commercial-finance-93CH-3839073
[2] https://www.stocktitan.net/news/LVLU/lulus-announces-new-credit-agreement-with-white-oak-commercial-6zasw4r2jdaa.html
[3] https://www.abladvisor.com/news/41291/lulus-enters-new-credit-agreement-with-white-oak-commercial-finance