Hedaya Capital Provides $5 Million Facility to Product Development Company
July 24, 2024
Source: The Hedaya Capital Group
The Hedaya Capital Group provided a $5,000,000 facility with a $1,000,000 sub limit for inventory advances to a New York-based product development company offering services for a product’s entire creation cycle, from design through production. With 50 years of experience and five business units – housewares, pet products, intimate accessories, socks & hosiery, and baby necessities – the Company works with major retailers around the country to find solutions and help them grow their businesses.
Initially, the Company’s principals reached out to retail expert Irwin Dayan for brainstorming and strategic advice as they pivoted to new product categories. Irwin previously led the Exceed Network, a non-profit which offered guidance and resources to business owners in NYC. After using other financing providers and being dissatisfied with the attention their account received, the Company turned to Hedaya Capital for working capital solutions. Since Irwin had collaborated with the principals for years on strategy at Exceed Network before joining the Hedaya Capital Group, he understood their needs, recognized their potential for explosive growth and believed in their entrepreneurial spirit. Hedaya Capital then custom-designed a financial program focused on their growth plans, not on a rigid formula, with the support and scalability they needed for the future.
Hedaya Capital’s financing gave the Company the runway to build new business, hit revenue goals, and ideally continue to develop new product categories, such as food storage containers and kitchen and pantry organization solutions. This year their revenue target has grown to $20 million.
“We are excited about the opportunity to work with Irwin and the Hedaya team to grow our business. Their retail knowledge, flexibility and attention to detail adds a great deal of value to our partnership. The financing will allow us to grow and turn our cash faster, as well as pursue larger opportunities.” – Company President
About The Hedaya Capital Group
Since 2003, The Hedaya Capital Group has been providing flexible financing solutions that enable companies to maximize growth and respond to transitional situations. As a family-owned and operated firm, we are deeply invested in the success of each of our clients. We work from a core of old world values where ethics have meaning and new world thinking where speed and flexibility ensure success. For more information, visit www.hedayacapital.com.
Initially, the Company’s principals reached out to retail expert Irwin Dayan for brainstorming and strategic advice as they pivoted to new product categories. Irwin previously led the Exceed Network, a non-profit which offered guidance and resources to business owners in NYC. After using other financing providers and being dissatisfied with the attention their account received, the Company turned to Hedaya Capital for working capital solutions. Since Irwin had collaborated with the principals for years on strategy at Exceed Network before joining the Hedaya Capital Group, he understood their needs, recognized their potential for explosive growth and believed in their entrepreneurial spirit. Hedaya Capital then custom-designed a financial program focused on their growth plans, not on a rigid formula, with the support and scalability they needed for the future.
Hedaya Capital’s financing gave the Company the runway to build new business, hit revenue goals, and ideally continue to develop new product categories, such as food storage containers and kitchen and pantry organization solutions. This year their revenue target has grown to $20 million.
“We are excited about the opportunity to work with Irwin and the Hedaya team to grow our business. Their retail knowledge, flexibility and attention to detail adds a great deal of value to our partnership. The financing will allow us to grow and turn our cash faster, as well as pursue larger opportunities.” – Company President
About The Hedaya Capital Group
Since 2003, The Hedaya Capital Group has been providing flexible financing solutions that enable companies to maximize growth and respond to transitional situations. As a family-owned and operated firm, we are deeply invested in the success of each of our clients. We work from a core of old world values where ethics have meaning and new world thinking where speed and flexibility ensure success. For more information, visit www.hedayacapital.com.