Ares Commercial Finance (ACF) provided a $25 million senior secured asset-based revolving line of credit to Real Good Foods (RGF), a Bolingbrook, Illinois-based producer of branded, health-focused foods dedicated to nutritious, protein-rich meal solutions that align with consumer dietary preferences.
“We are pleased to provide this flexible financing for Real Good Foods,” Srid Kannan, managing director at Ares Commercial Finance, said. “Real Good Foods’ diversified customer base, significant growth and established brand made the company a strong fit for our asset-based lending platform. We look forward to supporting management as they pursue the company’s next phase of growth.”
Jeff Gronbeck, chief financial officer of RGF, added, “We are excited to welcome Ares Commercial Finance as Real Good Foods’ new revolving lender. Ares worked closely with our team throughout the process and delivered a flexible financing solution that enhanced liquidity and positions the company to execute on its strategic and operational objectives.”
Proceeds from the financing will be used to refinance existing indebtedness and for ongoing working capital.