Sawgrass Finance, an asset-based lender and capital markets advisor, structured $20.3 million in combined financing for a food and beverage manufacturer and distributor. This transaction replaced the company’s incumbent bank and funded its next phase of growth.
The financing paired a working capital line of credit, secured by accounts receivable and inventory, with a commercial real estate term loan against the company’s owner-occupied facility. Both facilities closed on the same date, across multiple parties.
The new working capital line increased the company’s availability to $10 million, up from its prior bank line, giving the business room to fund its next phase of growth.
“This deal had several moving parts and a firm requirement that everything close together,” Marius Dobren, founder of Sawgrass Finance, said. “The business was strong and the assets backed it up. Our job was to read the whole picture and build the right capital around it. That’s ‘lending through partnership’ in practice.”
With the new structure in place, the company has working capital available to pursue growth.
