Case Summary: Merchant Cash and Capital, LLC

Merchant Cash and Capital, LLC

$25.0 million secured term loan

Overview

Merchant Cash and Capital, LLC (“MCC”) is a specialty finance company that provides cash advances to small businesses by purchasing a portion of their future revenue streams (known as merchant cash advances). The revenue streams are paid to MCC through an assignment of credit card receipts or through direct debiting of the customers’ bank accounts. Typical clients include restaurants, retailers, automotive service, other types of service businesses and certain non-retail businesses.

Challenge

Founded in 2005 and headquartered in New York City, MCC has experienced strong performance and significant growth and therefore needed to increase its current debt facility to capitalize on these business opportunities.

Solution

Crystal provided a $25MM commitment as part of a total $75.0MM senior secured term loan facility agented by Comvest Capital II, L.P. A portion of the transaction was structured as a delayed draw term loan.