ILLEGAL Restaurant Group, functioning as a holding company within the Fast Casual sector and operating under its subsidiary, ILLEGAL BURGER, announced it closed a senior secured revolving credit facility of up to $3 million with TCA Global Credit Master Fund (TCA). The facility with TCA will provide operating capital and funding for acquisitions and expansions.

Jim Nixon, founder and CEO, stated, “We are extremely excited to be working with TCA and our recent completion of our funding agreement with TCA Global Credit Master Fund. An initial draw of $375,000 less transaction expenses, will be used to implement the beginning of our proposed expansion operations. The company intends to use the remaining facility primarily to fund the growth of future acquisitions and additional restaurant locations. Additional draws up to $3 million under the facility are available on an as-needed basis, based on a mutually approved formula of eligible receivables and assets, and subject to continuing compliance with the terms of the revolving credit facility. Jim Nixon also stated, In no way is this a share backed credit facility, but a credit facility backed by the company’s assets, therefore maintaining and growing shareholder value in a non-dilutive transaction that will help continue to grow the company.”

ILLEGAL Restaurant Group operates ILLEGAL BURGER, a Denver-based Fast Casual Burger and Bar Restaurant chain created to change the way people look at burgers.