Briar Capital Real Estate Fund provided a term loan of $2.5 million to a Florida-based brewery. The company also manufactures and packages cold brew coffee with plans to expand into hand crafted ice creams.
The brewery opened multiple locations in Florida in 2019 and expanded distribution of its products outside of the state for the first time. These projects were funded out of working capital, so when the COVID-19 pandemic began and sales slowed, the company was short on cash. To address this, a portion of its production shifted to hand sanitizer. While this helped remedy the immediate situation, Briar Capital provided the help for the company’s long-term cash needs.
Briar Capital documented a new real estate loan facility to replenish the company’s working capital using its real estate equity. The new loan funds allow the company to continue executing on its business plan and proceed with expansion. With a collateral based approach, Briar Capital overlooked the company’s recent financial performance to provide a covenant free, payment friendly term loan solution.
Briar Capital Real Estate Fund is a real estate lender in the asset-based lending community. With a collateral based underwriting approach, it provides owner-occupied real estate loans from $1 million to $10 million.
