Eastside Distilling has closed a new asset-based revolving credit facility of up to $8 million in available principal amount with Live Oak Bank, backed by the company’s spirits inventory.
Liz and Curtis Chism began by making beer in their kitchen with a brewing kit. Today, they own Council Brewing, a popular San Diego destination for craft beer lovers. As the Chisms honed their brewing skills, they also gained the financial expertise to turn their hobby into a thriving business. Live Oak Bank provided both financing and business acumen to help them make the transition.
Live Oak Bancshares is expanding its accounting and tax firm expertise through the hire of senior loan officer Shannon Hay. Hay will work with Live Oak’s accounting and tax firm customers to help them start or grow their businesses through financing.