$6,500,000 A/R & Inventory Refinance Facility
Private Equity Group Achieves Growth for Dog Treat Manufacturer
Headquartered in Illinois, this all-natural dog treat producer sells its products to a variety of well-known retail stores. With a large range of products—all made with the highest-quality natural ingredients—the company has quite a competitive advantage, capturing the attention of dog lovers across the United States.
When it became clear that the company would need additional financing in order to fuel its growth, they received a secured loan from a non-traditional lender. When the company approached the lender to request an increase to their line of credit, the lender was unable to provide enough capital to fulfill the company’s immediate need required for growth.
Accord was able to provide the dog treat manufacturer with a non-notification, recourse accounts receivable purchase facility, and an inventory revolver. The client was satisfied that this facility gave them the ability to both refinance their line of credit and receive the capital needed to achieve their desired growth.
This client is partially owned by a private equity group local to Accord’s Greenville office. This is the seventh transaction between Accord and the sponsor. Although a competing lender was reaching out to the client for this deal, Accord won the client over with our consistently superior customer service, attention to detail, care for our clients and flexibility to beat the competition.