Business Capital (BizCap), a national commercial finance and debt advisory firm, closed a $12.5 million senior secured revolving credit facility for Project Bravo, a government-contract fulfillment and distribution firm providing sourcing, procurement and logistics solutions to government agencies and government-related customers. The company is a portfolio company of TEEDUP.
“As the company has grown, so has our need for a more scalable working capital solution. We have to pay suppliers before collecting from our government customers, Tim Gaines and the BizCap team understood that complex operating cycle and delivered a facility structured around it,” Ben Wood, CEO of Project Bravo, said. “BizCap did far more than introduce us to a lender, they helped validate our collateral, work through the closing liquidity requirements, negotiate the facility structure and manage every stage of the process through to successful funding.”
The credit facility aligns with Project Bravo’s operating cycle, expands working capital capacity to support its continued growth and restructures incumbent obligations to provide additional financial runway.
“This transaction required a streamlined financing structure encompassing the complexities of the company’s full operating cycle rather than a conventional AR-only solution,” Tim Gaines, vice president at BizCap, said. “Our focus was on building an efficient collateral and liquidity structure the lender could underwrite with confidence while ensuring the resulting facility would support the company’s weekly working capital needs after closing.”
Chuck Doyle, president and CEO of BizCap, added, “We are proud to stand behind the organizations that stand behind America. This new credit facility will not only help to position our client for continued success, but also contribute to a stronger, more resilient supply chain for our country.”