Private lending syndication platform CrowdOut Capital announced on Wednesday the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. The restaurant chain, originally from Hilton Head, South Carolina, owns and operates a successful restaurant franchise with 44 system-wide restaurants, which are 16 corporate, and 28 franchised, across nine states.
“All of our chicken is hormone free and steroid free. Our wings are fresh and never frozen, our nuggets and fingers are hand breaded and our 33 sauces are made from scratch in our kitchens daily. You won’t find any bottled, preservative ridden sauces ‘round here. Pair all of that with our burgers being made from fresh 100% angus chuck and our beer being cold and local and you’ll be saying, ‘Wild Wing…I think I love ya!'”
Speaking about CrowdOut Capital’s funding, Steve Weigel, CEO of Wild Wing Cafe, stated:
“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.”
Alexander Schoenbaum, CEO of CrowdOut Capital, added:
“We continue to see growing businesses like Wild Wing Cafe looking for flexibility beyond what traditional banks can offer. 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 claims it offers middle market and lower middle market companies ($10MM+ revenue) a better way to raise debt. The company noted it partners with credit funds to underwrite and fund loans, while also offering accredited investors the opportunity to earn 8-12% yields with investments as little as $1,000.
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