Aurous Financial has closed a $1.5 million facility for a specialty haircare product, sold at multiple major retailers.
The brand, featured on Shark Tank, approached Aurous with stacked MCA debt that dissuaded other lenders from financing it. Aurous brought in an AR lending partner to facilitate its exit and modeled a path out of the MCA debt via the client’s open AR and open orders, and converted them into a single note with an SBA line.
The brand is performing across all customers and expects to call on Aurous for another $1.5 million in trade and production financing in the next three months.
