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First Capital Provides $6MM Credit Facility to Hint, Inc.

December 11, 2014, 07:56 AM
Filed Under: Beverages

First Capital has provided a $6 million asset-based credit facility to Hint, Inc., maker of the leading and fastest growing flavored water on the market. The senior credit facility consists of a working capital revolver secured by accounts receivable and inventory.

Hint’s management team selected First Capital as its working capital partner because of First Capital’s ability to create a scalable line that would provide for additional availability. The proceeds were used to refinance the previous lender as well as provide additional liquidity for growth.

“Our company is growing and has numerous opportunities requiring additional working capital,” stated Theo Goldin, Hint’s COO and co-founder. “We are happy to have found a lending partner such as First Capital that supports our growth plan and can provide a larger, more flexible credit facility to help Hint grow.”

“We look forward to a long-term relationship with Hint,” said Mark Orlando, Senior Vice President at First Capital.  “Both the management team and products have been recognized for their excellence and we are proud to be part of the financing strategy of a high-quality brand with a solid business plan.”

As the leading flavored beverage with no sugars or diet sweeteners, Hint® water has captured the imagination of millions of consumers who are trying to cut back on sweet drinks, but who get bored with plain water.  Most major grocery stores and many of the top workplaces in America have embraced Hint as a simple and delicious healthy alternative.

First Capital provides working capital financing ranging from $3 million to $25 million primarily to growing and middle-market business owners with annual sales ranging from $10 million to $250 million.  Credit facilities are in the form of Asset-Based loans or Factoring arrangements. 

This transaction was sourced by Mark Orlando and will be serviced by First Capital’s Western Region located in Los Angeles, California, and managed by ABL Western Region Manager Matthew Grimes.

First Capital provides customized and timely working capital financing solutions to growing and middle-market companies engaged primarily in manufacturing, distribution and business services with annual sales greater than $10 million.  Lines of credit are in the form of asset-based loans or factoring arrangements ranging from $3 million to $25 million.  Originally formed in 1988, First Capital is one of the largest independent asset-based working capital lenders in the country.  Headquartered in New York City, the firm has additional offices in Atlanta, Boynton Beach, Chicago, Dallas, Los Angeles, and Oklahoma City with regional sales offices located across the United States. 

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