$300,000 in Funding for West Coast Pharmacy

Congratulations to Domenic Nardini securing and funding $300,000 to a thriving $45mm revenue West Coast Pharmacy.

Funds were needed quickly and were used to take advantage of a huge drug inventory purchase at a substantial discount.

This up and coming, just 5 year young pharmacy was struggling to get traditional bank financing due to some hefty losses on their 2015-16 tax returns stemming from some unproductive & non-profitable accounts. Our client quickly realized & corrected the issue and dropped many of these large clients that were simply not profitable. The top-line revenues dropped 50% in 2017 from $90mm down to $45mm and amazingly the company profitability actually started to improve.

The issue, still, due to the substantial losses in 2015-16, banks were still not an option. The client had an existing Investor loan of $4mm @ 16% APR on the balance sheet. So the company was looking for a fast subordinated position behind the existing debt.

Amerifi, LLC specializes in subordinated debt facilities (Term Loans & Lines of credit) behind traditional bank lines and senior debt facilities. We are able to produce term sheets in 24-48 hours and fund in less than a week!

This deal was funded on Friday for $300,000 @ 9.25% APR over a 3 year term, a much lower rate than their existing senior secured facility!

This is just one of a long list of Amerifi’s satisfied clients. Amerifi is also very active in working with clients with high cost daily and weekly payment loans and steering them in the right direction consolidating these when possible into more traditional like lower cost programs with monthly payments.

Amerifi, LLC – establishing itself as the go to firm in the industry for raising debt capital facilities!