Yerbaé Brands, a producer of plant-based energy drinks, secured a new $2.5 million accounts receivable and inventory line of credit from Oxford Commercial Finance. Yerbaé Brands secured the facility through Yerbaé LLC, its Delaware subsidiary. The facility replaced the company’s prior credit agreement and is an upgrade to bank debt.
“We are delighted to have secured this new debt facility from Oxford Bank,” Todd Gibson, CEO of Yerbaé, said. “This facility will provide us with additional financial resources to help expand our product line, reach more customers and continue to deliver healthy alternative energy solutions. We see this new debt facility as a testament to our growth potential.”
The debt facility is structured as a revolving line of credit, which means that Yerbaé can draw down funds as needed and only pay interest on the amount borrowed.
“We’re excited to have secured this new debt facility from Oxford Bank, as it will allow us to accelerate our growth plans and continue providing our customers with the best possible healthy energy beverage solutions,” Bill Finn, CFO of Yerbaé, said. “We’re looking forward to working closely with Oxford Bank as we execute our growth strategy and drive value for our shareholders.”
Yerbaé will use the financing to fund growth initiatives, including investments in product innovation, marketing and distribution. It will also use the financing to support ongoing operations and working capital requirements. The debt facility is secured by a security interest in all assets of Yerbaé, including a first security interest in Yerbaé’s accounts receivable and inventory.
