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Briar Capital Provides $2.5MM Term Loan to Florida Brewery

October 14, 2020, 09:04 AM
Filed Under: Brewery
Related: Briar Capital

Briar Capital Real Estate Fund announced it provided a $2.50 million real estate term loan to a Florida brewery. In addition to its multiple award-winning beers, the company also manufactures and packages cold brew coffees with planned expansion into hand crafted ice creams.

After experiencing success locally, 2019 was a year of expansion for the company. Not only did they expand their brand by opening multiple locations across the state, but they also expanded distribution of its products outside of Florida as well. These projects were funded out of working capital so when COVID hit earlier this year and sales slowed, they found themselves short on cash. To address their immediate cash flow needs, they quickly shifted a portion of their production to hand sanitizer for the current COVID pandemic however, it was not until they contacted Briar Capital before they found help with their long-term cash needs.

After a successful introduction by a National Bank, BCREF quickly documented a new real estate loan facility to replenish the company’s working capital using their real estate equity. The new loan funds allow the company to continue executing on its business plan and proceed with expansion. With a collateral based approach, BCREF was able to overlook the company's recent financial performance to provide a covenant free, payment friendly term loan solution.

With its sole focus on real estate lending, Briar Capital Real Estate Fund is the preferred real estate lender of the asset-based lending community. With a nationwide focus and collateral based underwriting approach, BCREF provides owner-occupied real estate loans from $1MM to $10MM.

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