Pinnacle Capital Finance issued a $4.5 million combination asset-based line of credit, purchase order financing and term loans to a California based winery. The company offers a wide variety of premium wines as well as spirits with products in each category awarded 95 points by The Tastingpanel Magazine.
The Pinnacle Capital Finance loan is structured as a $3.9 million accounts receivable and inventory line of credit, which makes eligible both finished goods as well as bulk wine and spirits for borrowing purposes. The remaining credit facilities also include a strap-on purchase order revolver and term loan. It is especially appealing to be able to leverage the bulk wine and spirits while it ages and transforms into valuable inventory required to support future case sales.
“We are pleased to partner with these first-generation winemakers whose innovation, vision and energy is as impressive as their delicious products,” Kevin O’Hare, president of the Pinnacle Capital Finance, said. “We also relish the opportunity to support their bold expansion into the Brown Spirits arena and look forward to watching them build their brand.”
