Business Capital Secures $1.6 Million for West Coast Manufacturer
Business Capital has secured a $1.6 million credit facility for a company engaged in the development and manufacturing of innovative, healthy and natural ingredients from agricultural resources.
The new credit facility will serve to increase the firm’s liquidity and finance a planned expansion of sales. To further the company’s growth, Business Capital worked with a variety of lending partners to structure a $1.6 million credit facility secured by the company’s accounts receivable and machinery & equipment that will enable the client to upgrade its production facility, expand its product lines and increase its worldwide customer base. As such, the client is now financially capable of supplying a broader range of ingredients to a larger assortment of customers.
“We are delighted to have secured this financing facility,” said Chuck Doyle, managing director of Business Capital. “Our client had limited capacity to finance increasing sales and is now ready to aggressively expand its product line pursue new sales opportunities and grow their customer base. Our client’s balance sheet and existing credit agreements were not suited to enable them to capitalize an expansion of sales. It was too restrictive. We identified additional value in the balance sheet that we were able to monetize and the additional funding will provide our client with a long-term source of working capital. It was critical for our client to work with a lender who would understand their industry. Business Capital was able to analyze and successfully present the company’s financial condition, its future potential and financial requirements to a broad variety of prospective lenders and match them with a financial partner who shared their vision and that supplied the right kind of financing at this time.”
The company developed a proprietary ingredient and process technology that fulfills the growing demand for healthy, natural, non-dairy, high nutrient density, whole grain gluten free and hypoallergenic food ingredients. The company manufactures these ingredients, which are sourced from a wide variety of raw agricultural materials, and supplies major food and beverage companies in North America as well as companies located outside the U.S. The company’s patented, revolutionary process has allowed it to develop ingredients utilizing the whole grain inclusive of all nutritional value in an expanded variety of foods. The ingredients can be found in a multitude of well-known food products including the RiceDream line.
Business Capital is a national commercial finance and debt restructuring firm that specializes in business loans for small to middle-market companies that is both intelligently structured and tailored to meet the financial requirements of each client.