Mountain Ridge Capital Provides $6 Million Senior Debt Financing for a Commercial Bakery
FRISCO, Texas, May 1, 2023 /PRNewswire/ -- Mountain Ridge Capital ("Mountain Ridge") today announced the closing of a senior secured credit facility for a southeast commercial bakery operation. The new credit facility, consisting of a $3 million revolving line of credit and a $3 million term loan, refinanced a national commercial bank. The new financing will also provide additional liquidity to support the future growth expectations of the business. As a non-bank senior debt lender, Mountain Ridge was able to provide significantly higher availability and more overall flexibility than the previous bank arrangement.
Craig Winslow, President and Chief Credit Officer of Mountain Ridge, noted "We built Mountain Ridge Capital on the basis of providing flexible and creative ABL structures – these were both needed to accommodate a business in transition. The bank was running out of patience with a business that was changing and the private owners are relieved to be away from the pressure of their lender."
About Mountain Ridge Capital
Mountain Ridge Capital provides highly customized asset-based revolvers and term loans to middle-market businesses and utilizes an industry agnostic approach to consider advancing against all types of collateral. Mountain Ridge targets lending to privately-held, family-owned and private equity-backed businesses requiring liquidity to support business transitions, including turnarounds, restructuring, acquisitions and changes in ownership or control. The Mountain Ridge platform was created in partnership with Arena Investors, LP (www.arenaco.com) in response to the growing demand for non-bank debt financing, which can be secured without unnecessarily slow and cumbersome bank committees, extended due diligence cycles, or lengthy legal processes. MRC offers borrowers quick turnaround times and has a team of experts that understand all types of collateral, not just traditional A/R and inventory, which results in higher advance rates and more overall liquidity as compared to many traditional bank products. See www.mountainridgecap.com for more information.
Contact:
Mountain Ridge Capital
Bill Drmacich
[email protected]
SOURCE Mountain Ridge Capital
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