Washington, DC (PRWEB) July 24, 2015
DC Community Ventures (DCCV), a community development venture capital firm based in Washington DC, announced that it has provided $400,000 in revenue-based financing to support the growth of JRINK. JRINK is a leading cold pressed drink company offering a wide selection of healthy drinks to the nation’s capital region. JRINK’s products are available through its own retail locations in Dupont Circle, Metro Center, Shaw and Falls Church as well as through the company’s web site. JRINK will use the capital for additional locations, technology investment and better sourcing.
DCCV offers revenue loans as a flexible alternative to raising capital for high growth, high margin companies. This revenue-based financing offers the benefits of lower cost with no dilution or loss of control compared with equity financing, and greater flexibility than bank loans without the personal guarantee requirements. Further, borrowers benefit from making loan payments that vary in proportion to revenue.
“DC Community Ventures is committed to supporting JRINK’s continued growth,” stated Candler Young, Managing Partner for DC Community Ventures. “We were attracted to JRINK’s impressive management, current financial performance, product offering and commitment to provide jobs and management opportunities for women.” 87% of JRINK’s current employees are females, the vast majority of whom come from minority backgrounds.
“We’re excited for the future of health & wellness; we believe that the food we consume should be natural and simple,” said Jennifer Ngai, co-founder of JRINK. “With the support of DC Community Ventures and our dynamic team, we believe JRINK is well-positioned to become a major player in the industry. We are thrilled that DC Community Ventures shares our mission for better living.”
About DC Community Ventures
Established in 2011, DC Community Ventures is a community development venture capital fund that seeks to invest in companies that deliver above-average financial returns as well as social impact for the communities in which they operate. We target investments in underserved areas to promote environmental change, social improvement and/or economic opportunity for low and moderate income workers. We offer flexible and patient growth capital through mezzanine debt and structured equity investments with a long-term investment horizon. For more information, please visit http://www.dccommunityventures.com.
About JRINK Juicery
JRINK is a DC-based health & wellness company founded on the belief that being busy does not have to compromise health. They offer fresh cold-pressed juices with produce sourced from local farms and served in recyclable glass bottles. JRINK is female owned and operated by two former Goldman Sachs employees. They currently have 4 retail outlets in Washington, DC and also offer home and office delivery. Since launching early 2014, JRINK has seen explosive growth, increasing its growth of over double digits each quarter.