First Capital Provides Flavored Water Company ABL
First Capital announced it 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, SVP 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.”
This transaction was sourced by Mark Orlando and will be serviced by First Capital’s Western region located in Los Angeles, CA, and managed by ABL Western Region Manager Matthew Grimes.