Last updated on June 13th, 2024 at 05:03 pm
Dwight Funding, a New York-based financing company, and InterContinetal Beverage Capital (IBC) are teaming up to provide working capital for companies in the beverage and consumer packaged goods industries.
The two firms announced July 18 that they are forming a strategic partnership within the beverage sector to help advance small and growing businesses.
Dwight Funding is a small and mid-sized business debt specialist, and IBC says it relies on an international network of investment resources, lending institutions and industry contacts for its clients’ financing needs.
“Not all capital carries the same value or opportunity for our clients,” said Joe Messina, co-founder and president of IBC. “In fact, many clients often overlook debt alternatives when seeking growth capital.”
Now through this partnership, Dwight Funding is an in-house resource to educate clients on creative debt solutions. Rather than having to rely on equity capital exclusively, Dwight can provide non-dilutive growth capital through its asset-based lending services.
“This partnership will allow us to reach more clients in the food and beverage space, and help them accelerate their business,” said Dan Basioe, co-founder and managing director of Dwight Funding.
