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.
