Bridge Bank Extends $25,000,000 Credit Facility to Health-Ade
COSTA MESA, Calif., Dec. 1, 2020 /PRNewswire/ -- Bridge Bank today announced it has extended a $25,000,000 credit facility to Health-Ade. Founded in 2012 and based in Los Angeles, Health-Ade is an organic beverage company, selling its beverages in more than 35,000 retailers nationwide, including Whole Foods, Target and Publix. The new credit facility will be used to support growth and expansion initiatives.
"Bridge Bank was able to give us the structure and flexibility we were seeking in a lending partner," said Gary Cooperman, chief financial officer at Health-Ade. "We had the ability to craft a tailored financial solution that truly worked for us."
"We are pleased to work with the team at Health-Ade and to support them in their growth and expansion initiatives," said Mark Breneman, senior vice president in Bridge Bank's Technology Banking Group. "We look forward to watching Health-Ade's continued strong growth and being there to support them."
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank's powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes "Best Banks in America" list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. For more information, visit bridgebank.com.
About Health-Ade Kombucha
Health-Ade creates feel good bubbly beverages with an emphasis on gut health that inspires people to follow their gut! The brand was founded in 2012 in the Los Angeles farmers' markets with their flagship product, Health-Ade Kombucha. The high quality, organic kombucha continues to be a top performing brand and leads growth in the kombucha category. In 2020, the company launched two new lines, Health-Ade Booch Pop, a new take on soda formulated with healthy acids from fermentation, prebiotics, and minerals targeted to aid gut health and Health-Ade PLUS, an adaptogenic kombucha crafted with Health-Ade's original kombucha and additional functional ingredients associated with desired feelings and need states. All Health-Ade products are made with the highest quality of ingredients, like cold pressed juice from organic produce, which results in a delicious, smooth, bubbly, and naturally low sugar drinks with gut health functionality. The brand is currently available in over 35,000 retail locations nationwide, including Whole Foods, Sprouts, Safeway / Albertsons, Kroger, Publix, Target. Health-Ade's growing roster are certified organic, Non-GMO, vegan, gluten-free. For more information, visit www.healthade.com. Follow along on Instagram @HealthAde, Facebook /HealthAde, and Twitter @DrinkHealthAde.
SOURCE Bridge Bank
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