Briar Capital Real Estate Fund provided a new $6.75MM real estate term loan to a toy manufacturer and distribution company located in the Northeast United States.
 
The COVID Pandemic had created challenges with the company’s retail distribution network as many of the stores supplying their product experienced closures, some permanently. The store closings resulted in declining orders which had a substantial effect on the company's bottom line. Their existing Bank decided they no longer fit their customer profile and asked the toy manufacturer to move the relationship. A national, Bank-Owned Asset-Based Lender stepped in to provide the revolving line of credit who quickly called Briar Capital Real Estate Fund to finance the company’s real estate assets.
 
Briar Capital Real Estate Fund and the new working capital lender closed their respective facilities simultaneously to pay off the incumbent Bank who had a lien on all assets. The simultaneous close of both loan facilities went off without a hitch due to excellent communication between both lenders. As of today, the children's toy manufacturer is experiencing same store sales growth and an expanding customer base. A win-win for all involved.