Standard Wellness Holdings has announced that various affiliates have successfully secured a $10 million credit facility from a prominent commercial bank. This financing, structured as a 10-year term loan amortizing over 20 years with a competitive 9.25% interest rate, will support the Company's continued growth initiatives and operational expansion. The facility also enabled partial repayment of higher-cost debt, which carries a 13.5% interest rate and matures in the third quarter of 2026.
"This new financing partnership underscores our financial partners' confidence in our business model and growth trajectory," said Jared Maloof, CEO of Standard Wellness Holdings, LLC. "With this facility, more than 75% of our debt now matures in 2033 or beyond, providing us with increased stability and flexibility to execute our long-term strategy."
Kyle Ciccarello, Vice President of Finance, who led the transaction, added, "This refinancing reduces our weighted average cost of debt to below 9.75%. This facility, when combined with other recent refinancings executed by the Company, will deliver over $1.2 million in annual interest savings. These savings enhance our financial position, enabling us to reinvest in strategic growth opportunities."
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Standard Wellness Holdings
standardwellness.com/