Assembled Brands closed a new asset-based credit facility for BelliWelli, a California-based gut health brand known for dietary fiber supplements and gummies. BelliWelli plans to use the facility to fund production and inventory tied to new retail accounts, including CVS and Sam’s Club, while also supporting its growing marketplace business across Amazon, TikTok Shop, and its direct-to-consumer channel.
The brand has expanded rapidly from its viral “Hot Girls Have IBS” marketing campaign into national retail distribution.
BelliWelli is now the No. 3 branded fiber product at Walmart and Target, according to Assembled Brands.
The financing structure includes Amazon FBA inventory in the borrowing base alongside BelliWelli’s other inventory and wholesale receivables.
Assembled Brands said this approach allows more of the company’s existing assets to support borrowing capacity.
The facility also includes an accordion feature designed to increase available capital as BelliWelli expands its retail footprint.
That structure is intended to allow the company to scale the line without refinancing or negotiating a completely new facility.
The financing does not require a lockbox, meaning customer payments can continue flowing directly into BelliWelli’s own accounts.
Assembled Brands also said the facility has no annual fees or hidden float charges.
Customer payments are applied to the outstanding balance immediately rather than after a multi-day processing period.
The lender said that feature is expected to save BelliWelli tens of thousands of dollars in annual interest expense.
The facility also does not include financial covenants.
BelliWelli said the structure gives its finance team greater visibility into borrowing availability while allowing operating decisions to be driven by business needs rather than quarterly covenant tests.
Assembled Brands completed the financing process from term sheet to closing in less than two months.
Financial terms and the size of the credit facility were not disclosed.
KEY QUOTES:
“BelliWelli turned online buzz into national distribution in just a few years, and that’s what our financing model is designed for. A brand at this stage has real assets, but most banks aren’t ready to lend against them yet. We value those assets for what they’re worth today, and we moved quickly to build a flexible line that can scale with the company as it adds doors.”
Kunal Kohli, Managing Director at Assembled Brands
“Assembled Brands looked past the viral moment and saw the business underneath it, from our retail receivables to the customers who keep coming back. Now we can say yes to new accounts without waiting on the last payment to land, and keep up with rising demand.”
Tyson Woeste, COO and Co-Founder of BelliWelli
“What a finance team needs most from a lender is availability it can plan around. With no financial covenants, our decisions are driven by the business rather than a quarterly test, and the Assembled Brands team took us from term sheet to close in less than two months, with no surprises along the way.”
Ben Wetzel, Vice President of Finance at BelliWelli
