Avidbank Corporate Finance Provides a $2,000,000 Term Loan to True Drinks, Inc.
Avidbank Corporate Finance Provides a $2,000,000 Term Loan to True Drinks, Inc. Business Wire PALO ALTO, Calif. -- December 10, 2013 Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided True Drinks, Inc. a $2,000,000 term loan. The facility will be used to help the company fund its projected growth. True Drinks, Inc., located in Irvine, CA, is a healthy beverage provider with major entertainment and media company licensing agreements for use of their characters on its proprietary, patented bottles. “I am pleased we were able to put this facility in place for True Drinks,” stated Avidbank Corporate Finance Executive Vice President, Mike Hansen. “They have assembled a high quality team with deep experience in this field. We look forward to a strong and mutually beneficial relationship.” Dan Kerker, Chief Financial Officer of True Drinks, commented, “The funding of this loan with Avidbank comes as the result of True Drinks being in a much more secure financial position following our equity raise last week. This note enables us to clean up our balance sheet by paying off convertible notes. Avidbank understands our business and will be a valuable partner for us as we continue to grow.” About Avidbank Avidbank Holdings, Inc. (OTCBB:AVBH), headquartered in Palo Alto, California, offers innovative financial solutions and services. We specialize in the following markets: commercial & industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing. Avidbank advances the success of our clients by providing them with financial opportunities and serving them as we wish to be served – with mutual effort, ingenuity and trust – creating long-term banking relationships. About True Drinks, Inc. True Drinks, Inc. (OTCBB:TRUU) is a beverage company with licensing agreements with major entertainment and media companies for use of their characters on its proprietary, patented bottles. AquaBall^TM Naturally Flavored Water, the Company's vitamin-enhanced water that was created as a 0 calorie, sugar-free alternative to juice and soda for kids, is currently being sold into mass-market retailers throughout the United States. For more information, please visit www.theaquaball.com and www.truedrinks.com. Contact: Avidbank Corporate Finance Steve Leen, 650-843-2204 Chief Financial Officer www.avidbank.com