Hamilton Perkins gets grant, gap loan for almost $100,000
The Virginian-Pilot announced loan closing with Hamilton Perkins Collection.
Hamilton Perkins Collection has landed a hefty bridge loan and a reimbursable grant to pay it off. The company’s bags are each made of 17.5 recycled plastic bottles and have inside lining sourced from old billboard vinyl and poster art. It also makes shirts that are 50 percent cotton and 50 percent plastic. Virginia Community Capital announced Feb. 26 it had closed on a $99,905 gap loan to the Norfolk-based company on Dec. 28.
“I saw there was an opportunity to scale that (inventory and marketing) up. It made a lot of sense,” Perkins said. “We’re still an early-stage company and there’s a lot of upfront cost associated with the type of products we make.”
Read the full piece at pilotonline.com.