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Rockland Trust Provides $6MM Asset-Based Credit Facility to Yankee Spirits

November 10, 2020, 08:15 AM
Filed Under: Beverage

Rockland Trust’s Asset-Based Lending Team provided a $6 million revolving line of credit to Yankee Spirits Inc., a retailer of wine, beer, and spirits with four locations throughout Massachusetts. The company sells a wide variety of alcoholic beverages, and utilizes warehouse space at each location to purchase in larger quantities, enabling them to offer discount prices. Proceeds from the line of credit were used to refinance their existing credit facility and going forward, the line will be used to support continued growth.  

“We’re pleased to partner with Yankee Spirits Inc., to support their business needs and to provide additional liquidity for future growth,” said Daniel J. Landers, Senior Vice President and Executive in Charge of Asset-Based Lending at Rockland Trust. “Yankee Spirits is well-positioned as a one-stop shop for alcohol, and has done a great job expanding its delivery, curbside pickup, and online ordering options.”

“Rockland Trust is a true banking partner who took the time to look at the Yankee Spirits business successes and challenges and help strategize the corporation’s banking needs for a successful future,” said Maureen Lang, Financial Controller, Yankee Spirits Inc., “During these unprecedented times, it is important to ask your banker what resources are available that meet the specific needs of the corporation.”

Yankee Spirits Inc., has been in business since 1971, has four retail “superstore” locations, located in Attleboro, Swansea, Norwood, and headquartered in Sturbridge, MA. Yankee Spirits, Inc., has experienced increased success through their online ordering portal, allowing for contactless delivery and curbside pickup for their customers throughout the COVID-19 pandemic.

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