US Capital Partners, LLC has provided a $1.5 million term loan for multiple franchise locations of World of Beer, a chain of craft-beer bars with more than 250 locations nationwide, including a bar at Destiny USA.
The Syracuse location opened last Dec. 16, according to Destiny USA.
San Francisco–based US Capital Partners is a private investment bank that makes direct-debt investments, participates in debt facilities, and arranges equity placements for small to lower middle-market companies, according to its news release.
The term-loan financing will support the “ongoing” expansion of the World of Beer franchise, Jeffrey Sweeney, CEO and managing director at US Capital Partners, said in the release.
“The new debt financing will provide funds to open additional locations while also providing liquidity to renovate the current franchise locations of the company. US Capital Partners was able to leverage the current assets of the business and evaluate the growth projections of the new locations in structuring and providing this financing for the business,” Sweeney said.
Founded in 2007 in Tampa, Fla., World of Beer offers over 500 craft brews from more than 40 different countries, according to the release.
Contact Reinhardt at ereinhardt@cnybj.com