Terry and Tammy Jacobsen, Inc.
Company: Terry and Tammy Jacobsen, Inc. (“TT” or “Company”)
Financing Amount: $5,700,000
Financing Date: April 3, 2020
About the Company
Terry and Tammy Jacobsen, Inc (“T&T” or “the Company”) was founded in 1991 as an appliance recycling company. Through time they were able to grow the company to over 700 employees across the US and Canada. In 2014, Terry sold the company and retained the Snohomish location. With that location, T&T maintained a large volume of used appliances for refurbishing to wholesale and retail clients. Now, T&T has added new scratch and dent appliances and can offer both recondition and new scratch and dent appliances as part of their product offering.
Situation
Given the growth trajectory of the company, it was crucial for T&T to lower their cost of capital. After having milestone growth numbers from year to year, it was time for the Company to secure additional working capital to allow the Company to execute on its strategic growth objectives.
Solution
Alantes secured a $3,400,000 term loan, a $1,300,000 term loan and a $1,000,000 line of credit based on the company’s existing equipment, real estate and company operations. These facilities served to refinance existing debt and provide additional working capital for the company’s growing operations. “Given the craziness of COVID-19 affecting businesses everywhere, we are extremely happy with the end result of the financing process,” said owners Terry and Tammy Jacobsen. “The Alantes team was able to provide clarity and comfort throughout the due diligence process. Not only were we able to secure multiple financing facilities, but we were able to secure an increase in the facility size after underwriting. We look forward to working with the Alantes team in the future.”
About Alantes
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at info@alantes.com
Alantes Corporate Finance, LLC
234 5th Avenue, 2nd Fl
New York, NY 10001
www.alantes.com
