In less than two years, Field House had grown substantially, more than doubling its beer production – among other exciting things; Canteen Locally Sourced Kitchen, Barrel Aged and Wild Beer Programs, a local Field House Farms project, to name a few – and they needed to invest in more production and packaging equipment to keep up with demand. Josh approached Ashdown, looking for a partner that would be excited to build a relationship and handle all aspects of finding the financing Field House required to bring its full vision to fruition.
Ashdown’s relationship and collaborative based approach fit well with what Field House was looking for, and we started working on multiple financing requests as they came up:
- Immediate need was for a high-end packaging system that needed to be brought in from Washington. We secured a lease facility from a local lender that paid the Washington based company directly, before the item was shipped and landed in Canada. This new equipment enabled Field House to bottle and package what used to take 2 weeks in 2 days, enabling more throughput of beer production and the time to create more beer recipes
- Field House would not have gotten to where they are today without the FI’s that helped them with their start-up financing; however, with the pace at which they were growing, and the success that they were having, it was time for them to move away from “start-up” rates. We worked with their existing FI’s to consolidate all of their start-up loans into one loan, reducing their rates by over 2%, creating one lower monthly payment.
- Now that Field House had the packaging equipment to allow for more beer throughput, they needed more tanks to feed the line as they were selling out at max capacity. Ashdown was able to get an approval within 24 hours of receiving the required information, and are now just waiting for the tanks to be produced.
“Ashdown has become a great strategic partner to Field House and integral to the grown and success of the company. Without their help, Field House’s production capacity and business growth would have been constrained by the challenges of cash flow. In a market where accessing growth capital from traditional ‘big banks’ is getting harder and harder, Ashdown provides the support small businesses need to get to the next level. And even better, the Ashdown team is a lot of fun to work with, they visit our business all the time and have become part of the Field House family” – Josh Vanderheide, Founder/Owner – Field House Brewing Co .
- operating line of credit
- term loan
- equipment leasing