NewStar Business Credit Provides $5MM Revolver to Vinum wine
NewStar Business Credit announced that it has provided a $5 million revolving credit facility to Vinum Wine Importing and Distributing. Seattle, WA-based Vinum distributes a variety of spirits and fine American wines and also imports and distributes fine wines from France, Portugal and Italy.
The credit facility will be used to meet working capital requirements and provide expansion capital to support growth.
“Vinum needed a substantial line of credit to continue to grow and take advantage of the many opportunities in front of it – NewStar proved to be an ideal partner to team with. We couldn’t be more pleased,” stated Michael De Maar, president of Vinum Wine.
“As we continue our expansion in the Pacific Northwest, we are pleased to have this opportunity to develop a new lending relationship with Vinum,” stated NewStar EVP Milton Iskra. “We look forward to supporting their continued growth and success. NewStar’s Lisa Adams, SVP, originated the transaction.
NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, provides asset-based and senior secured “stretch” loans nationally to middle-market companies.