Chicago Atlantic Closes Term Loan to a Leading Direct-to-Consumer Brand Focused on Senior Health and Personal Care
Chicago Atlantic Closes Term Loan to a Leading Direct-to-Consumer Brand Focused on Senior Health and Personal Care
CHICAGO--(BUSINESS WIRE)--Chicago Atlantic announced its role as sole arranger and administrative agent in the funding of a senior secured term loan for Because™ Market (“Because”). Founded in 2017, Because has built a strong reputation for providing high-quality products in the incontinence, personal hygiene, and wellness sectors.
“Because has established itself as a trusted brand in the large but underserved segment of the senior care market,” said David Enright, Partner and Head of Direct Lending at Chicago Atlantic. “We are excited to partner with their talented leadership team to help drive their next phase of growth.”
The financing will support Because’s continued growth, drive product innovation, and facilitate the Company’s strategic expansion into additional retail channels. While Because has primarily operated through direct-to-consumer sales, its recent entry into select CVS and Walmart stores marks a pivotal step in broadening its market presence and unlocking new growth opportunities.
The growing U.S. senior population presents a significant tailwind for Because’s addressable market. Currently totaling approximately 63 million, the senior demographic is projected to increase by 35% over the next 25 years, reaching an estimated 82 million by 2050—representing more than 22% of the total U.S. population.1 The market remains dominated by long-standing incumbents, resulting in limited innovation and responsiveness. This dynamically positions Because to stand out by introducing new products and focusing on the evolving needs of its customers.
"We quickly identified Chicago Atlantic as the right partner for Because,” said Todd DeCoursey, VP Finance at Because. “We spoke with many lenders but Chicago Atlantic stood apart in their ability to quickly understand our goals, partner on a solution that maximized flexibility, and enabled the long term growth and success of our business.”
1. U.S. Census Bureau, Population Division - Projected Population by Age Group and Sex for the United States, Main Series: 2022-2100 |
About Chicago Atlantic
Chicago Atlantic is a private market lender focused on industries and companies where demand for capital exceeds traditional supply. The firm focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth & technology finance. Chicago Atlantic has closed over $2.7 billion in credit facilities since inception. Chicago Atlantic’s team of over 85 professionals has offices in Chicago, Miami, New York and London. For more information visit chicagoatlantic.com.
About Because
Because is a leading health & wellness brand focused on older adults 65+. Its doctor-recommended, Made in the USA bladder protection, skincare, and supplements empower older adults to live independently and with dignity. Because serves hundreds of thousands of customers across various channels, including through its website, on Amazon, and at Walmart and CVS stores nationwide. For more information visit becausemarket.com.
