Epoca International, Inc. (“Epoca”) is in the business of providing housewares and related products to wholesale, retail, and online distributors, and has the exclusive Tasty cookware license through BuzzFeed.
Epoca banked with a large commercial bank out of Atlanta, under a fully followed ABL structure.
The company came into a cash flow problem, largely driven from an advanced, over-bought position to meet the ongoing Walmart Tasty program’s needs, and an additional planned Walmart promotional Black Friday event.
Based upon cash-flows, the need was short-term in nature, but substantially outside the banks Borrowing Base. The owner also provided additional new capital into the business.