Lendway, Inc. Secures $24 Million Credit Agreement to Fund Bloomia Acquisition

Lendway, Inc., a public company, entered into a secured credit agreement to support its acquisition of Bloomia B.V., a Netherlands-based private company and a leader in the fresh cut tulip industry. Faegre Drinker represented Lendway in connection with the financing, which provided $18 million in term loans to fund the acquisition and included a $6 million revolving credit facility for working capital and general business purposes.

The credit agreement was executed with Associated Bank, N.A., acting as agent for the lenders, with Lendway as parent guarantor and certain subsidiaries, including Tulp 24.1, LLC and Fresh Tulips USA, LLC, as guarantors. The transaction enabled Lendway to complete its acquisition of Bloomia and establish a financing structure to support ongoing operations and future growth.