The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Live Oak Bank Closes ABL Revolver for up to $8MM for Eastside Distilling
Thursday, January 16, 2020
Lenders/Participants
|
Live Oak Bank [Lender]
|
Structure
|
Asset-Based Revolver
|
Amount
|
$8.000
Million
|
Borrower(s)
|
Eastside Distilling, Inc.
|
Description
|
A new asset-based revolving credit facility of up to $8 million in available principal amount. The Company expects to use this new credit facility to pay off and replace the two existing inventory facilities of $5 million capacity with KFK and TQLA and to fund general working capital. In addition to the increased availability of up to $3 million, the new credit facility offers a number of potential advantages to Eastside, including a reduction in the interest rate. The new credit facility, coupled with the $2 million Accounts Receivable factoring agreement signed in December 2019, provides the Company with up to $10 million of aggregate financing to refinance existing debt and fund growth in the business.
|
Industry
|
Beverage
|
Location
|
OR
|
Related Tags |
Live Oak Bank
|
ABL Advisor
Deal Tables
2025
|
|
|
|