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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




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