The Company is a leading manufacturer of grills and associated cooking accessories.
Due to its small size, the Company had been using a receivables factoring company as a source of debt financing. This debt facility was more expensive than other market options, and it did not provide sufficient financing capacity for the Company as they continued to expand. Trestle was engaged to seek alternative financing options for the Company.
After receiving proposals from a number of alternative lenders, the Company secured an asset-based loan facility that significantly increased their borrowing capacity and decreased their cost of funds. Trestle subsequently helped the Company access subordinated debt from the same entity to help accelerate growth.