Healthy & Tasty Brands Corporation announced that it has closed on a $5 million revolving credit facility with TCA Global Credit Master Fund, LP. 

The company received the initial tranche of $700,000 on Thursday, June 16, 2016 and upon consent of the lender may draw down additional amounts on the same terms. The company plans to use the line of credit to carry out its expansion strategy by funding the acquisition of restaurants, retrofit existing restaurants and build out new locations, and to fund marketing/branding campaigns.

The company has four existing restaurant locations to date and is using the draw down for initial capital requirements for acquisition, pay down of debit, and retrofit of the first restaurant locations.

Chairman and CEO of Healthy & Tasty Brands, C. Keith Wilkerson II, commented, "Access to this credit facility will greatly strengthen our capacity to carry out the expansion for our corporately owned and future franchise locations. Further, we believe that as a result of the leverage that this facility affords us, the expense of the facility is significantly less than all-equity alternatives. Further, we are confident that TCA Global Credit will prove to be a reliable financial partner who will have the capacity to support our growth objectives."

The CEO added, "It is important for our shareholders to understand that this is a debt financing with a limited equity kicker. We believe that this facility will reduce the need to issue additional equity in order to fund new store locations."