PALO ALTO, Calif.--(BUSINESS WIRE)--
Avidbank Specialty Finance, a Division of Avidbank that specializes in
technology and asset-based lending, has provided an $8 million
asset-based line of credit to Yes To, Inc.
Based in Pasadena, California, Yes To is a global leader in natural
beauty products made with fruits and vegetables.
“Yes To has reemerged as an innovative leader in the fast-growing
natural beauty space,” said David Mannix, Partner at San Francisco
Equity Partners. “We chose Avidbank as a lending partner for Yes To
because we knew they would move quickly and would be able to scale with
the company.”
“The credit facility provided to Yes To reflects our continued
commitment to build market share in the asset-based lending arena,” said
Larry LaCroix, Executive Vice President and Division Manager of Avidbank
Specialty Finance. “Moreover, our ongoing relationship with San
Francisco Equity Partners has benefited a number of new portfolio
companies, as well as broadened Avidbank’s reach into new markets.”
About Avidbank
Avidbank Holdings, Inc. (OTCBB: AVBH), headquartered in Palo Alto,
California, offers innovative financial solutions and services. We
specialize in the following markets: commercial & industrial, specialty
finance, asset-based lending, real estate construction and commercial
real estate lending, and real estate bridge financing. Avidbank advances
the success of our clients by providing them with financial
opportunities and serving them as we wish to be served – with mutual
effort, ingenuity and trust – creating long-term banking relationships.
About Yes To
Yes To develops innovative, natural, fun and efficacious beauty and
personal care products that are free of all the "nasties" and filled
with all the "goodies." The company's natural, paraben-free products
span multiple categories including facial care, body care, hair care and
lip care. Yes To can be found in over 20,000 stores around the world at
retailers such as Target, Walmart, Walgreens, CVS, Ulta and Boots. Yes
To's widespread brand appeal, resonance with consumers, and highly
efficacious products have positioned the company for continued rapid
growth at the forefront of the natural beauty industry.
About San Francisco Equity Partners
San Francisco Equity Partners is a private equity firm exclusively
focused on consumer growth companies. SFEP partners with consumer
businesses that have reached an inflection point in their development,
where they can benefit not only from growth capital, but also from
SFEP’s operational, financial, and industry experience. For more
information please visit www.sfequitypartners.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215005270/en/
Avidbank Holdings, Inc.
Steve Leen, 650-843-2204
Chief
Financial Officer
www.avidbank.com
Source: Avidbank Holdings, Inc.