AUSTIN, Texas--(BUSINESS WIRE)--CrowdOut Capital LLC, a pioneering non-bank lender for middle-market companies, today announced the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. Founded in Hilton Head, Wild Wing Cafe owns and operates a successful restaurant franchise with 44 system-wide restaurants (16 corporate, 28 franchised) across nine states, predominately across the Southeast.
“CrowdOut was the flexible capital source we were looking for,” said Steve Weigel, CEO of Wild Wing Cafe. “We are excited to be partnering with them as we continue to grow our corporate owned and franchise base of restaurants. The CrowdOut partnership is exactly what we were looking for to position our company for the next phase of growth,” said Mr. Weigel. “As we endeavor to continue to build on our strong base business, develop new restaurants and onboard new franchisees, CrowdOut demonstrated a deep understanding of our business and worked with us to establish a transaction structure that aligns with our long-term objectives.”
“We continue to see growing businesses like Wild Wing Cafe looking for flexibility beyond what traditional banks can offer,” said Alexander Schoenbaum, CEO of CrowdOut Capital. “We have created a better lending solution in the midst of today’s glut of alternative capital. We collaborate with our borrowers to find a tailor-made solution.”
Founded in 2015, CrowdOut is the first and only company in the market using a web-based platform to offer individuals the opportunity to invest as little as $25,000 directly into corporate loans that range from $4 million to $50 million in size. Companies rely on CrowdOut to help reduce lending costs by streamlining the underwriting process and drastically reducing fees which is in stark contrast to financial institutions and other non-bank lenders. CrowdOut’s underwriting includes extensive due diligence to ensure they know the company inside and out.
About Wild Wing Cafe
Founded in 1990, Wild Wing Cafe provides a family atmosphere and a wide-ranging contemporary menu well beyond its world-famous chicken wings and bold sauce flavors. Wild Wing Cafe also offers live music from local bands and national acts which is a core staple of its business. Axum Capital Partners, the owners of Wild Wing Cafe, are a North Carolina-based middle-market private equity fund co-founded by former NFL all-pro Muhsin Muhammad, II.
For more information visit www.wildwingcafe.com or follow @wildwingcafe on LinkedIn, Instagram and Twitter.
About CrowdOut Capital
CrowdOut Capital is a private-lending syndication platform that offers profitable, middle-market companies a better way to raise capital. Its tech-enabled marketplace provides a solution for companies seeking non-bank lending while offering family offices, institutional and accredited investors the opportunity to invest in private debt on a deal-by-deal basis. CrowdOut has led more than $235 million in originations since inception.
To learn more, please visit www.crowdout.com or follow @crowdoutcapital on LinkedIn, Instagram and Twitter.