Asset Based Loan
Our Client has been providing premium high performance hair styling tools to complement the modern woman’s lifestyle for over 15 years. Prior to our Client penetrating the market, most hair styling devices were of lesser quality and priced low. Astute marketing and packaging, coupled with a gap in product quality, enabled our Client to penetrate and establish a profitable niche in the industry. The Founder built the brand by selling product to prestigious beauty shops, garnering endorsements by celebrity hairdressers who used the products, and concentrating sales with top retailers such as Nordstrom & Bloomingdales. The Company offers over 15 core models and introduces 2-5 new products each year.
Our Client is the owner of i) a company brand that develops and markets atomized evaporative cooling solutions acquired through an asset purchase (“Company #1”) and ii) a company that provides flight simulation and training technologies, acquired in January 2022 (“Company #2”). Both companies operate in different markets, have been in business for over 10 years, and underperformed during previous ownership. BizCap has been engaged to secure secure a line of credit of up to $5MM (secured with A/R & Inventory) to refinance an A/R-only credit facility. Our Client is also seeking a Term Loan of up to $7MM to refinance $3MM in past-due Convertible Notes and ~$4MM to fund working capital and product development.
Our Client (the “Company”) provides technology-enabled audit, recovery, and analytics services in the U.S. with a focus on the healthcare industry. The Company works with government and commercial healthcare payers to identify incorrect insurance claims, and improper or incorrect payments made to healthcare providers. Its proprietary, scalable technology and IP analyze submitted payer claims data to determine and quantify recoverable dollars, primarily in the form of overpayments. BizCap has been engaged to secure a $25-30MM asset-based credit facility to refinance $12MM of term debt outstanding with their incumbent, as well as fund ongoing working capital needs to support future revenue growth.
Asset Based Loan
Since 1998, our Client (the “Company”) has provided real-time visualization systems for flight training, simulation, and entertainment markets. Customers include all Department of Defense aviation components (i.e., USN, USMC, USAF & Army). Our Client’s specialized proprietary visualization products and database solutions support over 900 DOD flight training systems worldwide. BizCap has been engaged to secure a $8MM LOC with the ability to leverage AR, Unbilled AR, and Inventory.