This excerpt taken from the GFSI DEF 14A filed Nov 17, 2005.
D. Credit Facilities
Upon formation, Captiva entered into loan agreements with certain of its founders totaling $250,000. These loans were due and payable 60 months from the date of issuance and bear interest at 5% per annum. On June 1, 2005, Captiva obtained a $1,600,000 mezzanine loan from Salem Capital Partners, L.P. Loan payments to Salem precluded the payment of dividends (other than to members to pay taxes) and restricted the amount of payroll to certain of Captivas employees. Also on June 1, 2005, Captiva obtained a $1,500,000 revolving line of credit from The Peoples Bank. As of September 30, 2005, $851,000 was outstanding on the line of credit. Upon the closing of the merger, all of Captivas debt will be repaid in full from the cash portion of the merger consideration.