Healthy & Tasty Brands closed on a $5 million revolving credit facility with TCA Global Credit Master Fund.
The company received an initial tranche of $700,000 and, upon consent of the lender, may draw down additional amounts on the same terms. The company plans to use the line of credit to carry out its expansion strategy by funding the acquisition of restaurants, retrofitting of existing restaurants, building out of new locations and marketing/branding campaigns.
The company has four existing restaurant locations to date and is using the draw down for initial capital requirements for acquisition, pay down of debit and the retrofitting of the first restaurant locations.
Chairman and CEO of Healthy & Tasty Brands, C. Keith Wilkerson II, said, “Access to this credit facility will greatly strengthen our capacity to carry out the expansion for our corporately owned and future franchise locations. Further, we believe that as a result of the leverage that this facility affords us, the expense of the facility is significantly less than all-equity alternatives.”